Eventbrite Inc. /zigman2/quotes/208043748/composite EB +1.06% , a ticketing and event management site among the hardest hit by coronavirus, on Wednesday said it will lay off 45% of its 1,000 to 1,100 workers. Company Chief Executive Julia Hartz made the announcement during a companywide meeting, according to report by Protocol. "To ensure the long-term durability of our mission, we have made the difficult decision to reduce our global workforce by 45 percent. This is a harsh reality to face and we are saddened to see many of our team members depart the company," an Eventbrite spokesperson said in an email to MarketWatch. The struggling San Francisco-based company in March said it was withdrawing its business outlook for its fiscal first quarter and 2020 "as a result of the growing impact of COVID-19 on global live events." Eventbrite shares are down 65% in the last year. The broader S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.23% is down 5% in the last year.