Paradigm Talent Agency has permanently laid off approximately 180 staffers that were previously furloughed temporarily as a result of the coronavirus pandemic back in March, chairman and CEO Sam Gores wrote in a letter to staff Thursday.
No new cuts were implemented at the talent agency, but a number of the employees that were previously impacted six months earlier have now been permanently let go.
The Los Angeles Times previously reported in March that approximately 250 staffers were furloughed.
“With disappointment and sadness, today we have informed the temporarily laid off employees whom we have not been able to reinstate that they will be transitioned to permanent layoff,” Gores said in part in a note obtained by TheWrap. “As you know, over the last six months, we have brought back as many of our temporarily laid off colleagues as we could; unfortunately, the profound effects of the coronavirus have continued to severely impact every aspect of our industry and our world for longer than we had even imagined six months ago. Consequently, we have had to examine every aspect of our business and make this difficult decision.”
Paradigm and its large music division was hit hard by the coronavirus as a result of the stoppage of all concert touring.
Earlier this summer, Gores’ brother Tom Gores and his investment company Crescent Drive Media took an ownership stake in Paradigm. The move was a financial step to aid Paradigm in weathering the coronavirus crisis but also to “invest in future growth.”
Read the entirety of the memo from Gores sent Thursday below:
Dear colleagues,
With disappointment and sadness, today we have informed the temporarily laid off employees whom we have not been able to reinstate that they will be transitioned to permanent layoff. As you know, over the last six months, we have brought back as many of our temporarily laid off colleagues as we could; unfortunately, the profound effects of the coronavirus have continued to severely impact every aspect of our industry and our world for longer than we had even imagined six months ago. Consequently, we have had to examine every aspect of our business and make this difficult decision.
We are grateful for the work of the affected team members on behalf of the company and our clients — we thank each of them for their service to Paradigm. As these colleagues and friends begin their next chapters, we wish them only the best.
As a company, we have enjoyed growth for several decades, so needless to say, this is a difficult day. Our values and our core are strong, and we will continue on a focused path, and we remain committed to improving.
I recognize that you and your former colleagues have carried a heavy burden this year, and I am grateful for all of your contributions. We all hope that someday soon, the live and filmed entertainment industry will safely and wholly return.
As always, the company and I remain appreciative of your commitment and dedication.
Sam
Deadline first reported the news.
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