Refresh for updates…CBS announced today that they have fired Les Moonves as CEO with cause and decided to not give him $120 million in severance he expected after stepping down under allegations of misconduct this fall. Many in Hollywood reacted with Time’s Up leading the charge.

“The decision of the CBS board to further proof that no man is too powerful to face the consequences of his actions. We commend the CBS board’s decision to hold Mr. Moonves accountable for his egregious, predatory behavior,” Time’s Up said in a statement released Monday. “Today’s announcement is not a victory, but rather a long and overdue correction to behavior that has been ignored and covered up for decades.”

They added, “Given the enormous sum that they have already earmarked, we urge CBS to use these funds to expand their support of survivors and further equity in workplaces everywhere.”

Shaunna Thomas, co-founder and executive director of the national women’s group UltraViolet also issued a statement: “CBS’ announcement that it is firing former CEO Les Moonves for cause, and refusal to award him any severance is a huge victory for survivors of sexual assault everywhere. This decision shows that across corporate America, the tides are turning, and the new norm is that if you abuse women, you will lose your job and your golden parachute. While CBS still has a long way to go to fully rid itself of the toxic culture of abuse that Moonves perpetuated, this is a strong step in the right direction.”

Ava DuVernay, director of the forthcoming Central Park 5 reacted to the news saying “In the American entertainment industry, this is one of those headlines you would have never imagined a year ago. #TimesUp” The Good Place creator Michael Schur also chimed in saying, “It’s really sad that not giving a serial sex offender an additional $120 million seems like a victory. But this seems like a victory.” Ronan Farrow also took to Twitter bringing back his past New Yorker articles about the disgraced CEO.