Endeavor Making Wide Pay Cuts This Week, Avoid Layoffs For Now
EXCLUSIVE: Endeavor chiefs are telling staff today that there were will be companywide pay cuts ranging from 0-30% that will occur in the coming weeks, Deadline has confirmed. This is similar to a strategy adopted by Disney and other companies, to avoid mass layoffs during a pandemic that has brought world commerce to a screeching halt. Every company will see this except for UFC, because the latter is now wholly owned by Endeavor.
Endeavor president Mark Shapiro will take a 50% pay cut, this after chiefs Ari Emanuel and Patrick Whitesell informed staff last week they will go without salary the rest of this year, in a note that foreshadowed these cuts.
The higher earners will shoulder most of the burden here, and will see their pay decrease by 30% maximum.
There have been differing strategies on how to handle this crisis. In Hollywood, Paradigm was out front with a “temporary layoff” plan that left over 100 without a paycheck. Agencies like Verve instead opted for pay cuts. Lionsgate yesterday laid off a dozen in marketing and distribution while those arms are idle. Presumably those laid off can tap into the DC stimulus package that makes provisions for extended unemployment.
Deadline revealed last week that the
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