Endeavor lays out cost-cutting measures that will impact one-third of its staff, while representatives from the Spanish live industry urge the government to reconsider its enforced reduced capacities rule…
Endeavor, the parent company of live events firm IMG, will reportedly implement cost-cutting measures by the end of May, impacting up to one-third of its 7,500 employees globally.
The reductions will include layoffs, reduced pay for reduced hours for select employees and furloughs across its 90 offices, a company spokesperson said, according to Variety.
The measures will reportedly affect every division, including IMG and talent agency WME.
An Endeavor spokesperson told Variety: “The long-term prospects for Endeavor remain unchanged, but like other companies, we are taking a variety of actions to mitigate the impact of this pandemic. Since late March, we have been rolling out cost-saving measures in phases across our companies and geographies and intend to complete most of this process in late May.
“Approximately a third of our population will be impacted by reduced pay for reduced work, furlough, or position elimination, with the majority affected by reduced work and furlough.”
Spain’s capacity reductions
Spanish promoters’ association Asociación de Promotores Musicales (APM) is among those to sign a manifesto that states capacity reductions at live events venues in the country would be “unsustainable.”
The declaration, which was also endorsed by the national association of live music venues Asociación Estatal de Salas de Música en Directo (Acces) and the federation of associations of performing arts companies Federación Estatal de Asociaciones de Empresas de Teatro y Danza (Faeteda), calls for an “urgent dialogue” with the state about the reopening of cultural activities.
The organisations are arguing that the lack of ticket sales from enforced reduced capacities would be “unfeasible” due to the fixed costs of a live show, InfoLibre reports.
The collective is referring to the Spanish government’s suspension of all cultural, leisure and similar events for more than 1,000 people, with those that are less than that to be reduced to a third of the capacity.
The group has instead suggested sanitary and hygiene measures that “would guarantee the safety of staff and the public, counting on the cooperation of the health authorities and the state”. These would include the use of face masks and gloves, deep cleaning the technical equipment, taking temperatures on entry and only accepting card payments.
UK trade body Musicians’ Union, as part of the Federation of Entertainment Unions (FEU), has sent a letter to the Chancellor Rishi Sunak asking for urgent extra assistance for musicians and performers.
The group is for seeking support to be extended to groups including, parents and carers, self-employed people who below the 50 income threshold, as well as newly self-employed, and limited companies.
The FEU provides joint responses to policy consultations, offering jointly managed training and campaigning services for members of unions including MU, Bectu, Equity, the NUJ, and the Writers Guild of Great Britain.
The letter highlights the role of the UK creative industries in any economic recovery. It reads: “You will be aware that the creative industries are one of the UK’s greatest strengths.
“Our industries have the potential not just to grow further and to revive our economy when the crisis has passed; they can also contribute positively to the regeneration of large parts of the UK and help to deliver the Government’s ‘levelling up’ ambition.”