has cut executive salaries, reduced staff hours and furloughed an unspecified number of employees on Thursday.
The company provides services related to payroll, human resources, accounting, finance, workflow and productivity to the entertainment industry. It has about 700 employees. “The furlough approach –- as opposed to layoffs –- enables those affected to retain an employment relationship with the company during the furlough period,” the company said. “It also enables Cast & Crew to bring those individuals back to the company quickly and seamlessly when conditions improve.”
Which is really bad when you consider how much the industry has gone south over the last decade. 50% of the industry is just licensing foreign films, 1/4 is CGI'd and the final quarter is where the industry work has been for 10 years. So it's sucked for a long time.
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