EEDC CEO departs due to COVID-19 financial hit; more 'significant' layoffs coming
EDMONTON -- Three senior leaders have departed the Edmonton Economic Development Corporation and more temporary layoffs are on the way as a result of the coronavirus pandemic.
CEO Derek Hudson, VP of Research and Strategy Glen Vanstone and VP of Innovate Edmonton Cheryll Watson left EEDC as the senior leadership team downsizes.
The EEDC temporarily laid off 1,100 hourly workers on March 12 when it closed the Edmonton Convention Centre and Edmonton Expo Centre.
There will be another round of temporary layoffs for "a significant number" of the company's full-time employees, the EEDC said, and remaining staff will have their salary reduced.
"EEDC has been significantly impacted by the measures put in place to limit the spread of coronavirus," Director of Communications Tammy Forbes said in a news release.
"The organization is experiencing tremendous revenue reduction due to the closure of its two venues, cancellation of events, and a reduction in funding from various sources."
The EEDC, an agency of the City of Edmonton, is in charge of Edmonton Tourism, Innovate Edmonton, the Edmonton Convention Centre and the Edmonton Expo Centre.