Paradigm Talent Agency permanently cuts 180 employees
Paradigm Talent Agency said it will permanently lay off 180 employees, roughly 70% of the staffers who were temporarily let go from their jobs in March.
The layoffs are the latest sign of the economic stress in the agency business, which has been hammered by fallout from the COVID-19 pandemic.
“As you know, over the last six months, we have brought back as many of our temporarily laid off colleagues as we could; unfortunately, the profound effects of the coronavirus have continued to severely impact every aspect of our industry and our world for longer than we had even imagined six months ago,” Sam Gores, Paradigm’s chairman and chief executive, said in a note to staff. “Consequently, we had to examine every aspect of our business and make this difficult decision.”
As the pandemic postponed or cancelled many Hollywood productions and live events, talent agencies including Paradigm implemented cost-cutting measures, such as layoffs, furloughs and salary reductions.
Paradigm Talent Agency on Thursday said it laid off 250 people last week, citing the fallout from the COVID-19 pandemic. Former staffers have blasted the company over its handling of the layoffs.
Paradigm in March temporarily laid off employees. Initial reports put the number at more than 100 employees affected. After employee complaints, Gores later revealed to The Times that it was actually 250 employees who had been furloughed.
In January, the company had more than 700 employees.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.