As the world continues to battle through this COVID-19 crisis, companies both large and small are struggling to get by. In addition, many hardworking employees at these businesses are finding themselves out of the job. Recently, many employees at the Paradigm Talent Agency have been laid off. It’s reported that Sam Gores, Paradigm CEO, announced the decision during a Zoom call.
The company is expected to let go of about 100 of its 600 employees. To make matters worse, The Hollywood Reporter has reported that payroll for remaining employees will also be reduced. The only positive news is that Gores is supposedly making efforts to provide crucial support like healthcare to those impacted. It’s a stressful time where both companies and employees are struggling financially. Right now, anything helps those without work.
At this time where the virus is just about everywhere in the world, live events like music festivals have been put on standby. Anything that involves large crowds and get-togethers have been cancelled until further notice. Our hope is that by reducing large events, the spread of the virus will subdue. Unfortunately, Paradigm’s vast music department is one of the those struggling sections.
Still, it’s said that the layoffs are not aimed specifically at the music department. All departments are taking a hit from this pandemic and will need time to recover. Employees, much like all of us, are hoping this global pandemic will improve within the next couple of months. If it does, Paradigm would be able to rehire the employees let go.
Still, no one quite knows how long this nightmare will last. All we know now is that many more agencies will likely be forced to let go of employees as well.