Astralis, Origen, and Future FC parent Astralis Group joined a growing list of companies that are reducing operational costs amidst the current global health crisis (COVID-19) to secure liquidity. Today, the company announced that its management, employees, and most players entered a voluntary agreement to reduce salaries by up to 30% based on salary size. The highest-paid will see a pay cut of 30% while junior employees will not be affected.
“We are fortunate to operate in a digital industry where most activity can be maintained and even increased online, but like everybody else, we are dependent upon a thriving economy in the surrounding society and with our stakeholders,” said Anders Hørsholt, CEO of Astralis Group, in a release. “The fundamental strength of esports as a live- and broadcast product is obvious, however, the coming months will be a challenge for everybody, and in order to maintain a healthy business, we have decided to reduce operational costs significantly.”
Furthermore, Astralis Group reduced general costs across the organization. The reduction in personnel costs is an effort to secure jobs for all employees in the organization and to avoid being forced to send any employee home on leave with governmental support. For 2019, the publicly-traded company reported annual staff costs of €6.6M EUR ($7.2M USD).
