When UTA boasted it was first agency to restore paycuts even as it eliminated 50 positions earlier this week, ICM Partners cried foul, pressing the case it has not cut salaries through the pandemic. It seems small consolation, though, because over the past week, the agency cut around 15 positions involving junior agents and coordinators. It was the second round of bloodletting for ICM Partners, after the agency let go around 40 support staff in June.
All of this one-upsmanship seems pyrrhic because a lot of people at every agency have seen their career paths destroyed because of a pandemic that slowed agency revenues to a trickle when the production and live event businesses shut down in March.
Per the agency: “Due to the impact of the ongoing pandemic, last week we implemented a limited number of furloughs and have also eliminated some positions. These changes will occur throughout the agency, but are concentrated in business lines that have been most directly impacted by the pandemic. We value all of our employees and we look forward to bringing back our furloughed colleagues when business begins to return to normal. We have provided severance packages, including ongoing healthcare, to those impacted and assured continued health coverage for all employees”
Our sister publication Variety was first up with the ICM Partners layoffs.
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