EXCLUSIVE: Rumors have been going around that Paradigm made a significant cut in its ranks Friday, but here is the truth according to high level insiders. Sources said that the agency on Friday let go around 30, about half of those lower level agents and the rest support staff. Most of the staff cuts came in the music area where Paradigm has continued to rapidly expand in recent years.
This isn’t about attrition from the long standoff with the WGA over packaging, or readying for some kind of sale or merger. According to sources, the agency added about 120 staffers over the last year. The layoffs are in the name of efficiency, which is better for growth, said the insider. The agency has been ensconced in the Wilshire Blvd space once occupied by ICM and it has been building out that space. It also rolled up its UK partners and launched Paradigm UK and most of its recent personnel growth came through acquisitions in the music arena. The agency has about 700 employees in all its outposts.
Though Paradigm chief Sam Gores did seriously consider joining forces with UTA, the Friday layoff has nothing to do with that, and also, further staff cuts are not anticipated. There also is no imminent movement toward a franchise agreement deal with the WGA like Gersh struck last week, sources said. Gersh became the first full service agency to make such a deal.