Endeavor on Wednesday said that it will implement employee layoffs, furloughs and pay cuts in a move that is expected to impact roughly a third of the company’s workforce.
“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,” an Endeavor spokesman said in a statement. “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.”