The Paradigm Talent Agency, which represents a number of well known entertainers including musicians such as Coldplay, Tiffany Young, Halsey, and Ed Sheeran, has been forced to lay off nearly 100 of its 600 plus employees, according to The Hollywood Reporter. The report from the Hollywood Reporter states that the company hopes these cuts are only temporary until the COVID-19 situation subsides.
These cuts were announced by Paradigm’s CEO Sam Gores via an agency-wide Zoom call, and was later via a second call to department heads. Paradigm has cut agents, assistants and staffers from is various departments in music, motion picture and TV literature. According to a recent report from Variety, agents Dave Kaplan, who represented the Black Keys and Father John Misty, and Mike Mori, who represented the 1975, have both been laid-off by the company.
The Hollywood Reporter stated that “payroll will be reduced for those who remain at the company.” According to a source acquired by Pitchfork, “this reduction is a 50% pay cut that hit everyone from the executive team to assistants,” although employees who would normally make less than minimum wage with their salaries halved will make the minimum wage, according to Paradigm.
The COVID-19 outbreak has has numerous ripples across the music industry, as many music events have been postponed or cancelled as a result of the pandemic. Many notable companies such as the ticket vendor and event promoter LiveNation had stock drop by 50 percent in the wake of the pandemic. SXSW was also forced to lay off nearly one-third of its staff, after their festival was cancelled this year.