Hollywood agency Endeavor is laying off 250 staff as the company makes cuts amid the coronavirus crisis.
It is understood the staff affected are mostly operational and work mostly at IMG Academy, the sports boarding school owned by Endeavor.
Endeavor heads Ari Emanuel and Patrick Whitesell have agreed not to take their salaries for the remainder of the year. Further measures including pay cuts are anticipated in the days ahead.
The development follows the announcement two days ago that UTA was implementing pay cuts across its global teams affecting roughly 1,100 people. CEO Jeremy Zimmer and co-presidents David Kramer and Jay Sures said they would not take their salaries for the remainder of 2020.
Last week it emerged that Paradigm Talent Agency was implementing roughly 100 lay-offs to battle the cost of the pandemic.
Emanuel issued the following memo to Endeavor staff on Wednesday (25).
I don’t think any of us could have imagined we’d be in the place we are today.
As we all focus inward to protect our personal health and safeguard our families, every company around the world is simultaneously faced with safeguarding the health and future of its business. We are no different. All parts of our company are feeling the effects.
With that in mind, we are in the process of assessing our operations globally to develop a plan that will protect the business while limiting the impact on as many employees as possible. In addition to the cost-cutting efforts outlined a few weeks ago, we will be implementing a number of additional measures beginning this week and through April that will affect compensation and some jobs across the company. The effects on each business will vary, and you will receive more specifics from your respective leaders, to the extent any of these decisions may impact you. As part of this, Patrick and I will not be taking a salary for the remainder of 2020.
These decisions are not being made lightly, knowing the impact they may have on you and your families during these uncertain times.
We appreciate the strength and compassion that you continue to show for one another as we navigate this challenging situation.