"We look forward to welcoming audiences back for the 2021 production, which is on sale now," MSG Entertainment added.
According to the New York Post, MSG's decision to cancel the traditional show comes shortly after the company announced that they are planning to lay off 350 people as COVID-19 continues to slam the live performance industry.
Its sister company, MSG Sports, which owns the New York Knicks and the New York Rangers, is also cutting close to 15 percent of its corporate staff.
"This was a difficult decision for both companies, as we know that our success rests on the strength of our people, who consistently set the industry standard for excellence and professionalism,” the company said in a statement, per the Post.
Adding, "While we believe this is a necessary step to protect the long-term future of our businesses, we continue to actively pursue solutions that will allow us to safely reopen our doors, so we’re able to bring as many employees back as quickly as we can, once a return date for live events is established.”
As of the morning of Aug. 4, there have been at least 230,648 confirmed cases of the coronavirus in New York City and more than 23,000 deaths, the New York Times reported.
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