Cast & Crew Cuts Salaries, Announces Furloughs, Reduces Hours Due to Coronavirus
Published on Apr 10, 2020
Reacting to the coronavirus pandemic, payroll specialist Cast & Crew has cut executive salaries, reduced staff hours and furloughed an unspecified number of employees on Thursday.
“Cast & Crew and companies across all industries have been focused on the well-being of their employees and their families, as well as the ongoing financial condition of the company,” said Eric Belcher, chief executive officer. “After evaluating our options given the temporary entertainment industry slowdown caused by Covid-19, we are taking several actions to align our costs to the economic situation in the industry we serve.”
The company provides services related to payroll, human resources, accounting, finance, workflow and productivity to the entertainment industry. It has about 700 employees.
Salary reductions include 50% for the executive management team members and 25% for vice presidents and other senior employees. The company also decreased hours for a portion of the staff and furloughed “a significant” percentage of employees for an unspecified period.
Read full article at: Variety - Film News
Author: Dave McNary