July 28, 2020–According to an article by Justin Kroll and Mike Fleming, Jr. in DEADINED, Creative Arts Agency (CAA) has confirmed rumors that it has let go of 90 agents and executives, and has furloughed 275 employees because of the COVID-19 pandemic. This is the first layoff exercise that the agency has gone through, to this point, though technically the affected hourly employees aren’t being let go, they are being shelved for now. The agency will pay their health benefits through the length of the furlough, and those impacted can apply for unemployment to relieve the impact.
Across film, television, music, sports, digital media, marketing, and beyond, CAA represents thousands of the world’s leading actors, directors, writers, producers, musical artists, comedians, authors, athletes, coaches, broadcasters, teams, leagues, chefs, designers, fashion talent, consumer brands, and more.
Those furloughed are primarily assistants, receptionists, mailroom and others whose roles are needed only when the agency is operating from headquarters. CAA vacated its Century City space in mid-March.
The agency would not break down the number of agents let go from the company. The layoffs include agents and executives from departments across the company. Those who were just laid off will be given a collective payment and benefits package that will essentially keep them financially whole through October, the end of CAA’s fiscal year.
CAA began working remotely earlier this year due to the pandemic. Everyone at the company participated in reducing compensation with the hope that the company could keep all employees financially whole through the end of its fiscal year, September 30th, 2020.
Read the full story here: DEADINE