Creative Artists Agency said Tuesday that it is laying off 90 agents and executives and furloughing about 275 assistants and other staff.
Creative Artists Agency, one of the largest Hollywood talent agencies, said it is laying off 90 agents and executives this week and furloughing 275 staffers.
The cost-cutting measures are among the most sweeping to date in the agency business and come as the industry has been hard hit by the pandemic, which hasWith no vaccine immediately available, the entertainment industry is bracing for many more months of uncertainty caused by the coronavirus pandemic.
Citing “greater visibility into the COVID-19 challenges of fiscal year 2021,” CAA said in a statement that, “We have made the difficult decision to implement workforce reductions, in addition to our ongoing cost-saving measures ... This is a painful and unprecedented moment, and words are insufficient.”
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