United Talent Agency CEO Jeremy Zimmer on Monday sent an email to staff saying that the company will begin to furlough people due to the coronavirus shutdown.
The talent agency did not specify how many people will be impacted.
“We had hoped the salary reductions we all took would be sufficient, but at this point we must take this additional step to ensure the ongoing financial stability of UTA,” Zimmer said in the memo to staff. “Although we are not the first company to do this, and will not be the last, it is still extraordinarily difficult because we work so hard to protect and nurture our culture at UTA.”
In March UTA cut staffers’ salaries across the company, in an attempt to curb the financial impact of shutdowns resulting from the ongoing novel coronavirus pandemic. UTA’s peers — WME, Paradigm, and ICM — have already taken the step to furlough workers to stay afloat.
Zimmer’s memo didn’t specify how long the furlough period would be, but said the company will continue to provide employees’ health benefits, including covering premiums.
“Our hope is that we will be back to a new normal soon, and that it will include opportunities for all of you to return,” Zimmer wrote.
Read Zimmer’s full memo to staff:
Dear colleagues,
Today is one of our most difficult days in the near 30-year history of UTA. I am terribly sorry for all of our colleagues being furloughed.
This is a rough time in the world and work can be an important tether that keeps us connected. All this is made more difficult by our distance, and the fact that we cannot be together physically to provide comfort and friendship as many of our colleagues make this transition.
We had hoped the salary reductions we all took would be sufficient, but at this point we must take this additional step to ensure the ongoing financial stability of UTA. Although we are not the first company to do this, and will not be the last, it is still extraordinarily difficult because we work so hard to protect and nurture our culture at UTA.
For those impacted, you are not alone in this. UTA will continue to provide your health benefits, including covering your premiums, along with other resources, information and ongoing support. Beyond that, we will work hard to keep you connected to UTA, including access to internal programs and communicating with you as much as possible during the furlough period. Our hope is that we will be back to a new normal soon, and that it will include opportunities for all of you to return. Until then, you are in our thoughts and hearts.
I have so much pride in our company, our colleagues and our culture. Someday soon, UTA will again be brimming with laughter, smiles, and energy.
Until then, let’s stay strong and support each other.
Jeremy