CAA latest agency to dock pay amid Covid-19 crisis

Creative Artists Agency (CAA) announced it is implementing salary cuts of up to 50% across the agency yesterday (8 April).

The salary reductions, first reported by the Hollywood Reporter, follow similar pay cuts made at fellow agencies UTA, Paradigm, APA and WME parent company Endeavor.

The pay reductions will be company wide and calculated in proportion to wages, with higher earners taking bigger cuts. Co-chairmen of the agency, Richard Lovett, Bryan Lourd and Kevin Huvana will forgo the remainder of their salaries for the year, in a step also taken by heads of Endeavor, UTA and Paradigm.

“In this time of tremendous uncertainty we must look closely at what measures help ensure CAA always remains the strongest company for our employees and clients”

“In this time of tremendous uncertainty for individuals, businesses, governments and communities, it is incumbent upon us to look closely at what measures help ensure CAA always remains the strongest company for our employees and clients,” reads a statement issued by the agency.

“We deeply appreciate not only the understanding that employees across the company have demonstrated since this unprecedented global crisis began, but also the remarkable support and compassion colleagues have shown one another, clients and many in the community in need.”

CAA has yet to announce any layoffs due to the coronavirus outbreak.

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

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