Creative Artists Agency will be instituting staff reductions impacting about 60 people across multiple divisions.
Impacted include agents, executives and support staff — to be let go within the next week, a source tells The Hollywood Reporter. The figure is a relatively small percentage of the thousands of staffers that work at the Century City-based representation giant led by Kevin Huvane, Richard Lovett and Bryan Lourd.
Multiple departments had been evaluating staffing levels even prior to when the Writers Guild of America strike began on May 2. When performer’s union SAG-AFTRA joined the strike on July 13, Hollywood settled in to a long summer as the dealmaking ecosystem ground to a halt.
Several talent agencies have cut staff in the ensuing months as the guilds faced off with the Alliance of Motion Picture and Television Producers, which bargains on behalf of studios. For instance, Endeavor, the owner of fellow “Big 3” agency WME and fashion-focused IMG, estimated on August 8 that the impact of the actors’ and writers’ strikes would be about $25 million per month in revenue.
Hollywood’s agencies went through retrenchment and conducted notable layoffs or furloughs during the COVID-19 shutdowns in the middle of 2020, also at a time of a widespread production halt. At that time, in July 2020, CAA said it cut 90 agents and executives and further furloughed 275 assistants and other staffers.