Hollywood is seeing a wave of staff reductions from the corporate suites to the theme park turnstiles as entertainment giants including the Walt Disney Co. and Endeavor implement layoffs and furloughs in response to the Chinese coronavirus pandemic.
Just how bad is the carnage? In Los Angeles County alone, 14,000 entertainment-related workers saw their jobs evaporate in less than two months, according to a new report from tech news outlet dot.LA. Meanwhile, Tinseltown could see even more bloodshed in the second quarter, according to The Hollywood Reporter.
Endeavor — the largest Hollywood talent agency, as well as a studio — recently said that it will lay off or furlough up to a third of its staff. Disney has furloughed more than 100,000 employees worldwide, mostly in the company’s parks division.
Hollywood has been hit on multiple fronts, including the closure of cinemas and the suspension of live sports, which is usually a cash cow for broadcasters. The L.A. office of Fox Sports Productions saw 3,595 people temporarily laid off at the end of April, according to dot.LA.
Hurricane Isaias’ devastating aftermath comes into focus in striking images
Rescue expert warns FlyDubai hijacking attempt shows US, allies are ‘playing checkers’ against terror threat
‘Fraud’: Rubio Puts Woke So-Called Human Rights Group on Blast for Stunning US-Israel Hypocrisy
WATCH: CDC director discusses US government response to Russian plague concerns: ‘We are protected’
NYT Writer Claims ‘Combustible’ Sophie Cunningham Is ‘Just Too Much’ to Be Caitlin Clark’s Teammate
T-Mobile, AT&T Share Prices Plummet as Musk Makes Move to Shake Up the Industry
Trump announces immediate energy ceasefire between Russia and Ukraine
Disturbing Hunger-Killing AI ‘Yum Slop’ Trend Sweeps Through Restaurant Industry
Minnesota GOP chair blasts progressive group over KKK-themed sign shown during Black House speaker’s remarks
NYC councilwoman blasts Mamdani over Italian Heritage Month post praising ‘communist’
Poland’s police warn of a possible plot to attack Prime Minister Donald Tusk
‘LONG Overdue’: Trump Calls for Ukraine to Oust Zelenskyy
NYPD detective gives update on condition after illegal immigrant duo allegedly stabbed him 7 times
Watch: El-Sayed Still Can’t Condemn Dead Ayatollah Khamenei, Man Who Killed and Oppressed His Own People
Wage growth lags inflation, making the affordability crisis feel even more acute
Some of the biggest job losses have come from the production sector, which consists of below-the-line crew members who typically toil year round on crowded movie and TV sets. Hollywood’s trade unions have seen their members idle without work as soundstages around the country remain empty.
Breitbart News reported last week that Hollywood studios are currently working on ways to make sets safe when production ultimately resumes. While no major studio has yet to announce a timetable, one source told Breitbart that U.S. production may resume in June at the earliest.
But L.A. County’s decision to prolong its stay-at-home order for an additional three months is only creating more uncertainty.
Tyler Perry recently announced that his Atlanta studio will resume limited production in July. Countries including New Zealand, Poland, the Czech Republic have also announced that shooting can resume.
The Hollywood Reporter noted that individual studios are remaining vague about potential future layoffs. But some executives have spoken about coronavirus-related cost savings.
Hurricane Isaias’ devastating aftermath comes into focus in striking images
Rescue expert warns FlyDubai hijacking attempt shows US, allies are ‘playing checkers’ against terror threat
‘Fraud’: Rubio Puts Woke So-Called Human Rights Group on Blast for Stunning US-Israel Hypocrisy
WATCH: CDC director discusses US government response to Russian plague concerns: ‘We are protected’
NYT Writer Claims ‘Combustible’ Sophie Cunningham Is ‘Just Too Much’ to Be Caitlin Clark’s Teammate
T-Mobile, AT&T Share Prices Plummet as Musk Makes Move to Shake Up the Industry
Trump announces immediate energy ceasefire between Russia and Ukraine
Disturbing Hunger-Killing AI ‘Yum Slop’ Trend Sweeps Through Restaurant Industry
Minnesota GOP chair blasts progressive group over KKK-themed sign shown during Black House speaker’s remarks
NYC councilwoman blasts Mamdani over Italian Heritage Month post praising ‘communist’
Poland’s police warn of a possible plot to attack Prime Minister Donald Tusk
‘LONG Overdue’: Trump Calls for Ukraine to Oust Zelenskyy
NYPD detective gives update on condition after illegal immigrant duo allegedly stabbed him 7 times
Watch: El-Sayed Still Can’t Condemn Dead Ayatollah Khamenei, Man Who Killed and Oppressed His Own People
Wage growth lags inflation, making the affordability crisis feel even more acute
ViacomCBS has indicated that it will take more cost-cutting steps in addition to the ones already realized from the re-merger of Viacom and CBS.
Chief financial officer Christina Spade said the company was “taking additional cost-cutting actions and implementing initiatives to reduce discretionary expenses” amid the pandemic. “We are learning from this crisis and finding ways that we can operate more efficiently,” she said during a recent earnings call.
Meanwhile, Disney has begun the gradual process of re-opening its theme parks and resorts. Disney Springs in Orlando is set to partially re-open on May 20, though the adjacent Walt Disney World remains closed. Shanghai Disney Resort recently opened again with visitors required to take special precautions, including social distancing and masks.
Story cited here.
