fbpx
x

The latest industry news to your inbox.

    

I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

news

CAA to lay off 90 agents, execs

Creative Artists Agency has announced it is laying off agents and executives across its offices in the UK and the US, as well as furloughing 275 support staff

By IQ on 29 Jul 2020

CAA to lay off 90 agents, execs

CAA's Los Angeles headquarters


image © Minnaert/Wikimedia Commons

Creative Artists Agency (CAA) is preparing to lay off 90 agents and executives, as well as furloughing approximately 275 assistants, Variety has reported.

The staff cuts, effective this week, will be enacted across offices in London, Los Angeles, Nashville and New York.

According to sources close to the situation, the music and sports divisions are expected to be among the hardest hit.

“Effective this week, approximately 90 agents and executives from departments across the agency will be leaving,” says a CAA spokesperson.

“In addition, we are furloughing approximately 275 assistants and other staff. The company will continue to fully pay the health plan premiums for those being furloughed.

“This is a painful and unprecedented moment, and words are insufficient”

“This is a painful and unprecedented moment, and words are insufficient. Today, we simply say that we extend our sincere appreciation and deepest gratitude to our departing colleagues.”

CAA was among agencies and other live businesses to announce company-wide pay cuts in response to the coronavirus crisis, in the hope of “keep[ing] all employees financially whole through the end of our fiscal year, 30 September, 2020”.

The agency states it has honoured that commitment, including for those impacted by the announcement.

CAA had so far avoided reducing its workforce but now joins many across the live industry to do so, including fellow agencies WME and Paradigm, ticketers Eventbrite and TicketSwap and, most recently, AEG.

IQ has contacted CAA for further comment.

Photo: Minnaert/Wikimedia Commons (CC BY-SA 3.0) (cropped)

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

FOLLOW IQ

Leave a Reply

Your email address will not be published. Required fields are marked *