Media and entertainment titan Endeavor has decided to lay off 250 staffers because of the COVID-19 pandemic. In addition, pay cuts are being considered for all remaining employees. An overwhelming majority of staff cuts have affected IMG Academy and support staff at several of their talent agencies.
“We are in the process of assessing our operations globally to develop a plan that will protect the business while limiting the impact on as many employees as possible,” Endeavor CEO Ari Emmanuel stated.
“We will be implementing a number of additional measures beginning this week and through April that will affect compensation and some jobs across the company … as part of this, Patrick and I will not be taking a salary for the remainder of 2020,” Emmanuel continued.
“These decisions are not being made lightly, knowing the impact they may have on you and your families during these uncertain times,” he added.
Endeavor was formerly known as WME. It is one of the largest media companies in the world. Currently, the company represents the NFL and NHL. It also leads the group that owns the UFC and owns the Miss Universe pageant.