Chris Silbermann has been going to a number ICM movie agents asking them to take a “voluntary” pay cut of 25% because the studios have so drastically slashed production. This because of, not in spite of, ICM’s post-WME merger hiring spree of about 20 agents over the year which has put pressure on those already in the department. “He’s happy to bonus, but only if their base comes down,” an insider tells me. “It’s all motion picture for now, especially motion picture lit. He says he loves the team ICM has there and wants to keep as many as possible — as long as it’s rational.” So why did I put “voluntary” in quotes? Because of what this other source tells me: “Chris frowns upon it if you don’t take the cut. You’re told about it in the morning, and, by the end of the day, Rick Levy has sent a piece of paper up to your office asking you to sign it ‘as discussed’. It’s not really optional.”
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