The higher earners will shoulder most of the burden here, and will see their pay decrease by 30% maximum. The cuts will not impacts employees making under $65,000.
There have been differing strategies on how to handle this crisis. In Hollywood, Paradigm was out front with a “temporary layoff” plan that left over 100 without a paycheck. Agencies like Verve instead opted for pay cuts. Lionsgate yesterday laid off a dozen in marketing and distribution while those arms are idle. Presumably those laid off can tap into the DC stimulus package that makes provisions for extended unemployment.
Deadline revealed March 20 that Emanuel held a call with partners at talent agency WME, to tell them that aThere are plenty of rumors about all the company moves are going to impact who works where in the future. But these and other moves happening all over Hollywood are about one thing: companies like Endeavor carry debt obligations, and right now revenue has dried up in an unimaginable and abrupt way. The mission is to survive and keep as many people as possible working.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Urban Outfitters Furloughs Employees for 60 Days Starting April 1Urban Outfitters has joined the list of retailers furloughing employees amid the coronavirus. 🔐 Several of my friends have joined the furloughed group. This must impact the way retail companies are structured in the future. It must impact the direction in which they choose to grow. Industry is getting a painful re-start button.
Source: wwd - 🏆 24. / 68 Read more »
Utah's largest medical provider announces pay cuts for doctors and nurses amid coronavirus pandemicIntermountain Healthcare told its staff in an email that the pay cuts were necessary because the company wasn't bringing in as much revenue due to the COVID-19 outbreak. Republicans must be committing political mass suicide. It's about time! GOP economy works great for people, as long as those people are corporations. They did it we are saved, way to go for profit private medical systems!!!
Source: Newsweek - 🏆 468. / 52 Read more »
Bob Iger to Forgo Disney Salary, Top Execs to Take Pay Cuts Amid Virus CrisisThe Walt Disney Co. said on Monday that executive chairman Robert Iger will forgo his entire salary and recently named CEO Bob Chapek will take a 50 percent pay cut amid the coronavirus pandemic AS THE VIRUS GETS OUTTA HAND, [EVERY DAY] THE PEOPLE GO TO THE HOSPITAL FOR INJURIES, INFECTIONS, & SICKNESSES {UNRELATED TO THE VIRUS},THEY WILL DIE QUICKLY BECAUSE THEY CANT GET THE PROPER CARE THEY NEED! I BET TRUMPERS {NEVER THOUGHT ABOUT THAT}THIS IS 'WINNING,' RIGHT🤦🏽♂️🤷🏾♂️ I hope Bob Chapek will make an Appearance SW_Celebration Salary or compensation? Does this include stock and option awards and non-equity incentive plan compensation. Or only base salary? I ask before I invest.
Source: THR - 🏆 411. / 53 Read more »
Did CBS backpedal on overtime pay plan? Why assistants are fumingDid CBS backpeddle on overtime pay plan? Why assistants are fuming
Source: L.A. Times Health - 🏆 364. / 59 Read more »
Lionsgate Layoffs Include Distribution & Marketing DepartmentsDeadline has confirmed that Lionsgate has put re-structuring in effect largely in its film marketing and distribution departments, laying off a company-wide number in the high teens according to a … Please be the precursor for a sale of the company. :(
Source: DEADLINE - 🏆 109. / 63 Read more »
Lionsgate Film Group Lays Off More Than a Dozen Staffers (Exclusive)Exclusive: Lionsgate laid off a number of employees within the film marketing and distribution team Please be a precursor for the sale of the company.
Source: THR - 🏆 411. / 53 Read more »