15 July is the date set for the NEC Group to complete the review that could see more than 100 of its 1,000 staff lose their jobs.
NEC Group marketing and communications director Deborah Smith confirmed to C&IT this morning that a compulsory 90-day consultation period had been put in place, beginning 16 April.
The consultation proposals include reduced working hours, more outsourcing and departmental restructures. Smith refused to provide further details of these considerations.
The venue group, which includes Birmingham's NEC and ICC, issued a statement earlier this week citing a ‘significant drop' in exhibition business - 60% of the company's revenue.
Meetings and catering business had also been significantly hit, according to chief executive Paul Thandi:
"Revenue expectations from conference business are also lower as companies cut back and hold fewer events," Thandi said. "In the longer term, although business prospects look strong, the nature of servicing the needs of conference organisers is changing and our business must change to reflect this.
"This fall in activity levels will result in a reduction in revenue we can expect from catering within these venues too. At the same time as we are earning less revenue, our costs as a business continue to rise every year.
Thandi concluded: "Some of the proposals are likely to result in the loss of jobs. At this stage the proposals are subject to formal collective consultation, however they are significant and the number of job losses could exceed 100."