UTA Cuts Salaries Across Company Amid Coronavirus Pandemic (EXCLUSIVE)

variety.com:

United Talent Agency has implemented a company-wide salary cut, multiple people familiar with the decision told Variety, as Hollywood deals with a near-shutdown in the wake of the coronavirus pandemic. “Like companies across the industry and our country, UTA is taking some immediate and painful steps to ensure we get through the current public health and economic crisis as strong as possible.

In addition to aggressive cost-cutting measures, this includes asking our colleagues at every level to take pay reductions, structured so our most senior colleagues make the largest financial sacrifice.

The understanding and support we’ve received from our colleagues has been incredibly gratifying, as is their recognition that these difficult steps are