CAA Enacts Agency-Wide Pay Cuts Due to Coronavirus
Published on Apr 08, 2020
Creative Artists Agency is enacting pay cuts across the entire company as the coronavirus pandemic continues to wreak havoc across Hollywood and the global economy, Variety has learned.
The last domino to fall among the major agencies, the cuts are on progressive basis affecting the highest-paid, a spokesperson said. Agency leaders Richard Lovett, Bryan Lourd and Kevin Huvane will forgo compensation entirely, for the time being.
“In this time of tremendous uncertainty for individuals, businesses, governments and communities, it is incumbent upon us to look closely at what measures help ensure CAA always remains the strongest company for our employees and clients. Making cost reduction decisions is always a thoughtful and deliberate process for us, never more so than under these extraordinary circumstances,” a CAA spokesperson said in a statement.
“We are implementing, among other actions, a reduction in pay among employees across all levels of the agency, with our
Read full article at: Variety - Film News
Author: Justin Kroll