The mobile technology industry’s trade body is cutting about a fifth of its workforce after being forced to cancel a conference that generated most of its revenue. From a report: The decision by the GSMA follows the cancellation of February’s Mobile World Congress in Barcelona — an early major industry casualty of the Covid-19 pandemic — which accounts for as much as 80% of the trade group’s annual revenue. The company has around 1,000 staff. Stephanie Lynch-Habib, the group’s chief marketing officer, confirmed the cuts and workforce size reported by Bloomberg earlier on Wednesday, and said those affected had been informed. “We think this is at least a three-year recovery scenario,” she said in an interview, and added that the staff reductions were part of a wider cost-cutting plan. The GSMA has also slashed bonus payouts to eligible individuals and pared budgets and non-staff spending by about 40% for the current year.

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Source: Slashdot – Mobile World Congress Organizer To Cut 20% of Global Workforce