Endeavor has lined up a $260 million term loan to boost its financial flexibility amid the coronavirus pandemic
Ari Emanuel and Patrick Whitesell at the Fast Company Innovation Festival on Nov. 9, 2015 in New York City.
"Since late March, we have been rolling out cost-saving measures in phases across our companies and geographies and intend to complete most of this process in late May," an Endeavor rep said April 22, citing impact to one-third of the company's 7,500-person workforce. Emanuel and Whitesell, who renegotiated their salaries to $4 million in 2019, said they'd be forgoing base pay for this year as part of part of the cost-cutting measures.
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