Endeavor makes another round of cuts as coronavirus squeezes Hollywood [Los Angeles Times (CA)]
S&P Global Inc. (SPGI)
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Source: Los Angeles Times
Financial pressures on Endeavor appear to be mounting, as the Beverly Hills entertainment company announced an additional round of cost-cutting and layoffs in the wake of the coronavirus outbreak. The company, which owns the William Morris Endeavor talent agency, said one-third of its workforce, or roughly 2,500 employees, will be affected by furloughs, have their positions eliminated, or be shifted from full-time to part-time work. Previously, Endeavor announced it would lay off 250 people and cut salaries. The latest round factors in those layoffs and will include more job cuts. The company declined to provide further details. “The long-term prospects for Endeavor remain unchanged, but like other companies, we are taking a variety of actions to mitigate the impact of this pandemic,” the company said in a statement. The announcement is a further blow to Endeavor, which had planned to launch an IPO last year . Endeavor has been hurt by the cancellation and postponement of live events,
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