A round of layoffs and furloughs were enacted at Hollywood talent agency ICM Partners last week, Variety has learned.
As many as 15 junior agents and coordinators were cut or furloughed across multiple departments including motion picture literature, branding, legal and the agency’s concert business. The news was delivered last Thursday, said sources.
“Due to the impact of the ongoing pandemic, last week we implemented a limited number of furloughs and have also eliminated some positions. These changes will occur throughout the agency, but are concentrated in business lines that have been most directly impacted by the pandemic,” an ICM spokesperson told Variety. “We value all of our employees and we look forward to bringing back our furloughed colleagues when business begins to return to normal.”
Furloughed employees will continue to receive full health benefits, while laid-off workers will receive 90 days of extended care. ICM cut a small group of support staff in March at the start of the coronavirus pandemic.
The agency is much smaller in number than competitors like CAA and WME, who have laid off or furloughed staff and reduced salaries across the board this year in attempts to cope with the economic devastation of COVID-19. ICM has pridefully maintained staff wages throughout the crisis.
On Wednesday, UTA became the first of the agencies who had cut pay to restore salaries, while also laying off 50 staffers in the process. Notably, UTA and ICM have both recently entered into an agreement with the Writers Guild of America that will see both agencies end packaging fee practices and welcome back screenwriter clients and, theoretically, lost revenue.