MWC organizer lays off 20 percent of staff due to exhibition cancellation

GSMA, the carrier umbrella organization that hosts the Mobile World Congress telecom show every year, has reportedly laid off 20 percent of its staff. The layoffs are necessary due to the revenue gap due to the cancellation of the stock market.

The GSMA derives 80 percent of its income from the stock market, Bloomberg reports based on an interview. MWC was the first major tech fair to be canceled due to the coronavirus outbreak. After many large exhibitors had already cancelled, GSMA decided a week and a half before the doors would open to cancel the event.

This concerns a total of 200 of the 1000 jobs at the umbrella organization, which is also cutting other costs. The association has had to cancel another satellite event in Shanghai after MWC due to the corona virus and hopes that fairs can continue next year. Organizers of other tech fairs are also preparing for physical events. IFA in Berlin will continue in September with a maximum of 1,000 invitees, while CES in January in Las Vegas should again become a trade fair that is also held physically in addition to online.