According to Billboard, AEG – the parent company of Coachella’s Goldenvoice production team – has instituted its “deepest staff cuts in the company’s history” hinting toward the California mega-festival’s cancellation.

In the wake of the COVID-19 crisis, the summer 2020 festival season has been essentially scrapped, and with AEG laying off 15% of its workforce, furloughing over 100 staff and instituting mass pay cuts, it seems that Coachella is the next event to get the axe.

Coachella was originally set for the weekends of April 10-12 and 17-19, and headliners included Rage Against The Machine, Travis Scott and Frank Ocean. It is widely considered one of the largest and most influential music festivals in America, drawing more than 250,000 people over two weekends.

It was then rescheduled to the weekends of Oct. 9-11 and Oct. 16-18.

And while Coachella has yet to make an official statement, AEG CEO Dan Beckerman said, “When we are able to reopen, it will take time until we see our fans, partners and sponsors fully return.”

This story is still developing…