CAA furloughs around 300 employees
has dropped a bombshell today. Agency has confirmed rumors today that the agency has let go 90 agents and executives, and has furloughed 275 employees because of the COVID-19 pandemic. This is the first layoff exercise that the agency has gone through, to this point, though technically the affected hourly employees aren’t being let go, they are being shelved for now.
“CAA began working remotely earlier this year due to the pandemic. Everyone at the company participated in reducing compensation with the hope that we could keep all employees financially whole through the end of our fiscal year, September 30th, 2020.But, with greater visibility into the COVID-19 challenges of fiscal year 2021, we have made the difficult decision to implement workforce reductions, in addition to our ongoing cost-saving measures.
Effective this week, approximately 90 agents and executives from departments across the agency will be leaving. In addition, we are furloughing approximately 275 assistants and other staff. The company will continue to fully pay the health plan premiums for those being furloughed. This is a painful and unprecedented moment, and words are insufficient. Today, we simply say that we extend our sincere appreciation and deepest gratitude to our departing colleagues.”
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