By Mike Fleming Jr Co-Editor-in-Chief, Film The long expected cutbacks at WME will happen Monday. At the agency, 20% of its employees will either be laid off, furloughed or reduced to part time during this pandemic.
This will include some agents, a lot of support staff and cuts will be felt deepest in music and non-agents in areas like shared services, and less so in core areas like lit and talent.
The cause is the pandemic that has shut down productions, movie theaters and live arenas, starving the debt-heavy parent company Endeavor of most of its revenue streams.
A spokesman confirmed this to Deadline: “WME is reducing its workforce by approximately 20% as a result of COVID-19’s impact on our business.
Read more on deadline.com