Hollywood Agencies Tighten the Belt as Pandemic Drags On

As expertise companies in Hollywood really feel the results of a city-wide shutdown, ICM Partners on Wednesday furloughed “floating assistants,” assist employees not assigned to a selected agent or division, TheWrap has confirmed.

Those affected have been paid a month’s wage and medical advantages have been prolonged by way of May. When the company reopens its Century City headquarters, the staffers can have the chance to reapply for his or her misplaced positions.

Additionally, WME has quickly frozen expense reimbursements and future bills are prohibited till additional discover, a supply tells TheWrap. Staff cuts haven’t but hit WME, CAA, and UTA.

Paradigm Chairman and CEO Sam Gores introduced that the company would furlough roughly 100 staffers within the wake of the coronavirus pandemic and scale back payroll for many who stay on employees.

The actual variety of workers furloughed is just not identified, however the company employs at the very least 600 folks. In a companywide convention name on Friday morning, Gores assured employees that he would made each effort to offer for the furloughed workers, together with well being care. The furloughs are anticipated to final a number of months at the very least.

Paradigm, whose sizable music division has been onerous hit by the stoppage of all live performance touring, is the primary Hollywood expertise company to bear cuts. Other expertise companies are anticipated to observe swimsuit.

The information got here at some point after California Gov. Gavin Newsom ordered residents statewide to remain at house in response to the continuing coronavirus pandemic. The order, which went into impact on Thursday at midnight and can final “until further notice,” will have an effect on almost 40 million folks.

“This is a moment we need to make tough decisions,” Newsom mentioned at a press convention on Thursday night. “This is a moment where we need some straight talk and we need to tell people the truth: We need to bend the curve in the state of California.”

Variety reported