Talent agency WME will cut its workforce by about 20 per cent, continuing a difficult stretch for parent company Endeavor that has been sharply heightened by the ongoing Covid-19 pandemic.
A spokesman confirmed this “WME is reducing its workforce by approximately 20% as a result of COVID-19’s impact on our business. We appreciate the contributions of our former colleagues, and out of respect for their privacy, we will not be commenting on the status of specific employees. While we are making these difficult decisions now to safeguard our business, we believe in the resilience of our team and our industry.”
The staff cuts will include all personnel at all levels and all departments, including the agency’s sports representation business.
The moves continues a turbulent period for Endeavor. After pulling its planned US initial public offering last fall, the company has also seen its credit rating downgraded.