
Paradigm Permanently Lays Off 180 Previously Furloughed Staff
No new cuts were made at the talent agency
No new cuts were made at the talent agency
The agency created this new role in an attempt to help improve diversity and inclusion in its workplace
“You have to look at these artists as small businesses. It’s going to be devastating,” Loeb & Loeb partner and music lawyer Derek Crownover says
Music-centric talent agency continues to struggle financially amid the concert business shutdown
Paradigm also retains Warner Bros. vet Bruce Rosenblum as an adviser on growth and investment opportunities
Gores recently backed down from a plan to cut music agent pay by 50%
Bestick joined Paradigm in 2009
“It’s a f—ing war zone,” one insider tells TheWrap
Last week, Klein filed a suit accusing CEO Sam Gores of breach of oral contract and whistleblower retaliation, among other things
Company has secured “interim financing that will provide a bridge through this global crisis,” Gores says in email
“Both Paradigm and Mr. Gores expect to be 100 percent vindicated,” the agency’s outside counsel Dale Kinsella said
“The companies that will be hit the hardest are those that are highly leveraged,” analyst Tuna Amobi says
“I don’t think any of us could have imagined we’d be in the place we are today,” said Endeavor chief Ari Emanuel in memo to staffers
More than 100 staffers among 600 employees were temporarily let go on Friday
Payroll will also be reduced for those who remain at the company