NEW YORK – (Realty News Report) – The International Council of Shopping Centers (ICSC), organizer of one of the world’s largest commercial real estate trade shows, has announced a significant reduction in its headquarters staff, according to recent reports.
ICSC is best known for producing the annual RECon convention, which typically draws thousands of retail and commercial real estate professionals to the Las Vegas Convention Center.
Filing information submitted to the New York State Department of Labor indicates that ICSC is laying off 65 employees at its headquarters, CoStar News reports.
“ICSC has made the difficult decision to reduce the size of our team. The decision was necessitated by the impact of COVID‑19 on our operations,” ICSC President and CEO Tom McGee wrote in a letter to members. The organization cited the pandemic’s sustained disruption to events, travel and in-person gatherings as the primary reason behind the workforce reduction.
On its website, ICSC explained the cancellation of RECon and other early-2020 events: “The decision to cancel RECon as well as other ICSC events that were scheduled to take place before September 30, 2020, was made to explicitly protect the health, safety and well-being of our members, attendees and exhibitors. It was reached after diligently monitoring and evaluating the current nationwide public health situation, action and direction of the CDC, and local and national authorities, along with extensive discussions with ICSC’s Chair, Vice Chair, Executive Board and member volunteers. Your RECon 2020 registration fee can either be rolled over to RECon 2021 or you can receive a refund.”
The cancellations and related revenue shortfalls reflect broader challenges across the events and trade-show industry, where large-scale gatherings were postponed or canceled amid public health restrictions. For organizations that rely heavily on in-person conventions and exhibitions, lost event income and uncertainty about future gatherings have prompted staffing adjustments and operational restructurings.
ICSC’s decision to offer registration rollovers or refunds for RECon 2020 attendees was intended to balance customer needs with financial realities, while maintaining relationships with members, exhibitors and sponsors. The organization has emphasized that protecting public health was the primary consideration in canceling events and that leadership engaged with volunteers and governance bodies during the decision-making process.
While the layoffs affect a substantial portion of the ICSC headquarters workforce, the organization stated it remains committed to supporting the retail real estate community through alternative programs, virtual offerings and future in-person events when conditions permit. Stakeholders and industry observers will be watching how trade associations such as ICSC adapt their event models and service offerings in a landscape that may include more hybrid and digital formats going forward.
June 11, 2020 Realty News Report Copyright 2020
