Since Hollywood’s film and TV shutdown in mid-March, the industry’s representation business has taken a financial hit. On Tuesday, CAA became the latest major agency to disclose plans for layoffs and furloughs amid the novel coronavirus pandemic.
“Effective this week, approximately 90 agents and executives from departments across the agency will be leaving. In addition, we are furloughing approximately 275 assistants and other staff. The company will continue to fully pay the health plan premiums for those being furloughed,” a CAA spokesperson said.
Among the agents and executives impacted, employees in cross-division functions like finance and information technology departments were also affected. Impacted CAA employees will be compensated and will receive benefits through September 30.
The cuts are notable in that CAA, which has about 2,100 total staffers, had been the only major talent agency to avoid a significant round of layoffs amid the pandemic. In April, the agency said that it would be implementing proportionate companywide pay cuts in order to stave off furloughs, with co-chairmen Richard Lovett, Bryan Lourd and Kevin Huvane pledging to forgo salaries for the rest of 2020.
Earlier in the pandemic, in March, Paradigm announced that it was implementing pay cuts and furloughs for its 600-plus employees, with the agency later disclosing to the state of California that it temporarily laid off 130 staffers.
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Written By: Tommy Lightfoot Garrett
Photographs are Courtesy: AP
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