2 months ago
EXCLUSIVE: There is simply a information of layoffs astatine William Morris Endeavor today, Deadline has learned. Affected are 30 people, aliases 3% of nan staff, crossed aggregate offices, departments and levels of nan talent agency.
The unit reduction, which will beryllium completed by nan extremity of nan week, is not believed to beryllium predicated connected an event, for illustration nan layoffs that followed nan CAA-ICM merger, but a lawsuit of nan proverbial rightsizing stemming from nan cumulative effect from years of manufacture consolidation, cost-cutting crossed nan media companies, shrinking marketplace post-Peak TV and nan extremity of packaging.
WME co-chairmen Christian Muirhead and Richard Weitz addressed that successful a institution memo astir nan cuts this morning.
“Our manufacture is undergoing profound alteration — from consolidation and shifting economics to caller exertion and evolving customer needs,” they said. “At nan aforesaid time, caller platforms are creating much opportunities than ever for talent and creators to scope audiences astir nan world.”
WME’s past information of layoffs was in nan early months of nan pandemic successful May 2020. While location person been isolated cases of staffers being fto spell aliases agents’ contracts not being renewed, WME is believed to beryllium nan only awesome Hollywood agency not to person group layoffs since nan pandemic.
Today’s unit cuts travel a twelvemonth aft WME went private, becoming portion of WME Group. WME co-chairs Muirhead and Weitz service arsenic co-Chairmen of WME Group, starring nan representation-focused institution alongside WME Group President and Managing Partner Mark Shapiro.
“Since going backstage astir 1 twelvemonth ago, we’ve been moving diligently to fortify our statement by reducing layers, expanding responsibilities, and removing bureaucracy, successful a singular effort to enactment retired successful front,” Muirhead and Weitz wrote successful their statement to staff. “Looking ahead, we’re focused connected shaping nan agency for nan early by building connected our standard and acquisition and capitalizing connected our industry-best capabilities and customer strategy.”
Here is their afloat memo:
Our manufacture is undergoing profound alteration — from consolidation and shifting economics to caller exertion and evolving customer needs. At nan aforesaid time, caller platforms are creating much opportunities than ever for talent and creators to scope audiences astir nan world.
Since going backstage astir 1 twelvemonth ago, we’ve been moving diligently to fortify our statement by reducing layers, expanding responsibilities, and removing bureaucracy, successful a singular effort to enactment retired successful front.
As such, coming we person made nan difficult determination to trim a number of roles crossed nan agency. We expect conversations pinch impacted individuals to beryllium complete by nan extremity of this week. WME is committed to supporting our colleagues during this transition.
Looking ahead, we’re focused connected shaping nan agency for nan early by building connected our standard and acquisition and capitalizing connected our industry-best capabilities and customer strategy.
Thank you for continuing to show up for 1 different and for our clients. We admit your professionalism and commitment.
