Salary reductions were put in place back in March, as the COVID-19 pandemic upended Hollywood. On March 13, Delta Air Lines CEO Ed Bastian sent out a memo to all Delta employees updating them on how COVID-19 is impacting the company and the steps being taken to "protect the financial position of the company.". While we do not know what the future holds, we are committed to being candid and transparent about where things stand as we navigate these uncharted waters together.”. The most important thing we can do right now is continue to manage UTA carefully, deliberately and day-by-day. Hollywood may never look the same after the coronavirus pandemic, but a relic of the old world has been returned to one major Hollywood agency: full paychecks.

The reductions will take place in several parts of our business and include both active and some furloughed colleagues. “Like companies across the industry and our country, UTA is taking some immediate and painful steps to ensure we get through the current public health and economic crisis as strong as possible,” a UTA spokesperson said in a statement. "The understanding and support we've received from our colleagues has been incredibly gratifying, as is their recognition that these difficult steps are intended to ensure the long-term strength and viability of our company," the UTA statement continued. The furloughed workers won’t be brought back immediately, but the 50 person layoff is a downsizing move as the agency remakes itself for the future.

Parts of our business have remained steady despite the impact of COVID-19 and, in some areas, we’ve performed stronger than expected. UTA began paying reduced salaries on March 23. Zimmer also teased the news that hourly employees — namely assistants — will be seeing “meaningful” increases in base pay. Although there are still uncertain times ahead, I am grateful for all we have accomplished together to bring us to this point. Launch dates for broadcast, cable and streaming programs, Up-to-date lists for broadcast, cable and streaming series, Pandemic-proof vs. pandemic-contingent broadcast lineups, Signup for Breaking News Alerts & Newsletters, Get our latest storiesin the feed of your favorite networks. See Jay Sures's compensation, career history, education, & memberships. Companies across the US are grappling with the sudden financial stress caused by the pandemic and taking measures to mitigate the inevitable blow it will have on business. He also set up a relief fund for his workers, he wrote on Twitter. In July, UTA became the first agency to end a bitter stalemate with the Writers Guild of America over the latter’s new franchise agreement, which seeks to end the lucrative practice of packaging. We are committed to doing our best by them with generous severance packages. UTA CEO Jeremy Zimmer and co-presidents Jay Sures and David Kramer addressed the staff via video conference on Monday to break the news, two insiders said. Here is the memo sent internally by Zimmer: From: Jeremy ZimmerSent: Wednesday, September 2, 2020To: All UTASubject: Update. Of the agencies that cut staff salaries at the start of COVID-19, UTA will be the first to make employees whole, it was announced Wednesday by agency CEO Jeremy Zimmer. I’m told that Zimmer and agency heads Jay Sures and David Kramer will continue to not take salaries through year’s end. Casamigos HQ. The stories dominating banking, business, and big deals. Staffers were told of the move in a video conference call with UTA CEO Jeremy Zimmer and co-presidents Jay Sures and David Kramer. Salary: $903,310 estimated ... A source told the newspaper that CEO Jeremy Zimmer and co-presidents Jay Sures and David Kramer would be forgoing their … The Beverly Hills-based United Talent Agency has announced that it will cut the salaries of its staff as a result of the coronavirus pandemic, the Los Angeles Times reported. We’ve been able to manage through this period as well as we could have hoped—in great part because of the shared sacrifice you have made these past six months through the pay reductions. Divisions include talent, sports, podcasts, a speakers bureau and independent film sales. Get the latest coronavirus business & economic impact analysis from Business Insider Intelligence on how COVID-19 is affecting industries. UTA reps film and television talent including Timothee Chalamet, Awkwafina, Chris Pratt, Cynthia Erivo and Phoebe Waller-Bridge. Copyright © 2020 Penske Business Media, LLC. United Talent Agency has implemented a company-wide salary cut, multiple people familiar with the decision told Variety, as Hollywood deals with a near-shutdown in the wake of the coronavirus pandemic. Terms of Use | Full salaries will be reinstated by Mid-September. Or a tip on how your town or community is handling the pandemic?

In a memo to employees on March 18, Allegiant laid out a strategic plan of operations during the pandemic.

Backs BFI, Film and TV Charity Fund to Support Creatives During Coronavirus, How Coronavirus Is Affecting Entertainment: All the Major Delays and Cancellations, Coronavirus Live Updates: France Shuts Down Stores, Trump Expands Travel Ban. Zimmer and UTA co-presidents Jay Sures and David Kramer will forgo compensation for the rest of 2020. Paradigm on Friday let go of about one-sixth of its workforce as a result of the industry's near-shutdown. And knowing how hard everyone continues to work under these unusual circumstances, we’ve decided to continue summer half-day Fridays through September 25. While we do not know what the future holds, we are committed to being candid and transparent about where things stand as we navigate these uncharted waters together.”. UTA began paying reduced salaries on March 23.

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