Convene Furloughs More Than 400 Employees After Closing All Its Locations

Convene CEO Ryan Simonetti
Bisnow Archive/Joseph Pimentel
Convene Ceo And Co-Founder Ryan Simonetti

After announcing plans to lay off a fifth of its workforce because of the coronavirus crisis, flexible workspace provider Convene is readying to furlough hundreds more.

The company told 421 people this week that they would be furloughed starting March 30, Bisnow has learned.

The Brookfield and RXR Realty-backed company let nearly 150 people go last week, and a spokesperson said it isn't planning further job losses. Anyone laid off will be receiving one month’s severance and one week of severance for every year they were with Convene, the spokesperson said, and will also receive a month of health coverage.

Those furloughed will keep their seniority at the company, according to a statement, and Convene will pay their portion as well as the company’s healthcare contribution until August or the end of the furlough period. Convene has also established an employee relief fund from portions of the leadership's salaries for those affected by the cuts.

Company co-founder Ryan Simonetti was not available for comment Tuesday night, but a representative for the firm pointed Bisnow to his statement from last week in regards to the layoffs.

“The coronavirus pandemic has had a huge impact on the hospitality and meetings and event industries, and Convene has not been immune to that,” he said. “This is incredibly difficult for us, but we’re taking every measure possible to do right by our employees by providing both severance and healthcare coverage while ensuring we sustain our business for the long-term.”

Convene has just over 800 employees in total, and closed all 32 of its locations earlier this month.

CORRECTION MARCH 25, 4 P.M. ET: Convene has 32 locations, not 28. This story has been updated.

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Related Topics: Convene , Coworking , Ryan Simonetti
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