CAA Braces for Layoffs and Furloughs of Nearly 400 Staffers
is about to implement significant layoffs and furloughs this week that will amount to as much as a double-digit reduction in the workforce at the Hollywood talent agency, insiders tellCuts are believed to be coming across the board, with about 90 agents and executives staff facing pink slips and 275 support staffers facing furloughs in numerous departments at the agency and across offices in Los Angeles, Nashville, New York and London.
We are honoring that commitment, including for those impacted by today’s announcement,” CAA said in a statement. CAA’s sports and music divisions are expected to among the hardest hit, said another source close to the company. Upon initial virus lockdowns this spring, CAA instituted agency-wide pay cuts on a scale that impacted the highest paid first. WME saw a similar round of cuts thanks to the pandemic and larger issues facing its parent company, Endeavor. UTA was first out of the gate with pay cuts in hopes of avoiding layoffs, which have not yet been enacted in the shutdown, while ICM Partners laid off a nominal amount of support staff.
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