CAA Implements Layoffs And Furloughs

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The pandemic and the subsequent shutdown of the majority of traditional live events has forced CAA to implement workforce reductions with the news that “effective this week, approximately 90 agents and executives will be leaving,” in addition to furloughing approximately 275 assistants and other staff. 
This week’s announcement comes less than four months after CAA informed staff April 8 that leadership – Richard Lovett, Bryan Lourd and Kevin Huvane – will take no salary for the rest of the year and, while they plan no layoffs, there will be company-wide pay cuts of up to 50%, based on a progressive scale, as first reported by Deadline.com and confirmed by Pollstar.
A statement released by CAA July 28 noted that the layoffs affected employees from “departments across the agency,” though Variety reported that a source close to the company said that the sports and music divisions were expected to be “among the hardest hit.” For those who were furloughed, CAA will continue to fully pay their health plan premiums. 
 
“CAA began working remotely earlier this year due to the pandemic.  Everyone at the company participated in reducing compensation with the hope that we could keep all employees financially whole through the end of our fiscal year, September 30th, 2020,” CAA said in a statement, first reported by Deadline. 
We are honoring that commitment, including for those impacted by today’s announcement.

But, with greater visibility into the COVID-19 challenges of fiscal year 2021, we have made the difficult decision to implement workforce reductions, in addition to our ongoing cost-saving measures.

Effective this week, approximately 90 agents and executives from departments across the agency will be leaving. 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.  Today, we simply say that we extend our sincere appreciation and deepest gratitude to our departing colleagues.”
Most agencies and promotion companies have been affected by COVID-19, including layoffs, furloughs and/or salary reductions announced across the industry in recent months at companies such as WME, United Talent Agency, Paradigm, AEG Presents, Live Nation, Ticketmaster, Eventbrite, SXSW, Feld Entertainment, Cirque du Soleil and others.