One-third of the approximately 7,500-strong staff at Hollywood behemoth Endeavor will be impacted by cuts imposed during the coronavirus pandemic, the company said on Wednesday (22).
Screen understands that at time of writing the teams at Endeavor Content, the packaging, sales and financing division that works across film and TV, were not affected.
However it is believed that each of Endeavor’s companies, which besides Endeavor Content include talent agency WME and live events company IMG, will have either been or will be impacted by cost-cutting measures in some way by the end of May.
Those measures encompass pay cuts for reduced working hours, furloughing, and redundancies. The majority of staff will be affected by the first two scenarios.
“The long-term prospects for Endeavor remain unchanged, but like other companies, we are taking a variety of actions to mitigate the impact of this pandemic,” said an Endeavor spokesperson.
“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. Approximately a third of our population will be impacted by reduced pay for reduced work, furlough, or position elimination, with the majority affected by reduced work and furlough.”