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.
Fetterman Defends Trump Foreign Policy Wins as Fellow Democrats Throw a Fit: ‘Removing Maduro Was Positive’
3 Days After Maduro’s Capture, And Trump Has Inked Multi-Billion-Dollar Oil Deal to Be Used to Benefit the Venezuelan and American People
Trump pulls US out of UN-linked migration forum in bold immigration move
Rubio outlines three-step plan about what comes next for Venezuelan government
Rubio lays out three-phase plan for Venezuela after Maduro: ‘Not just winging it’
‘Hands off Venezuela’ demonstrations kick off worldwide
House report suggests activist groups did not help fire relief efforts. They say otherwise
Mark Kelly Gives CNN Rambling Response When Asked If Troops Who Captured Maduro Should Have Disobeyed Their Orders
Marco Rubio Tells Lawmakers Trump’s Plan for Acquiring Greenland: Report
White House says Venezuela’s future ‘dictated’ by US as Trump embraces ‘American dominance’
Florida boater accused of killing teen in crash avoids jail time with plea deal
Slain Ohio dentist’s brother-in-law says ‘domestic dispute’ 911 call came from party guest, not wife
Watchdog urges DOJ probe of top research university over alleged illegal DEI practices: ‘Defies common sense’
Trump says US will always support NATO despite plans to invade or buy Greenland
DOJ sends prosecutors to Minnesota amid widening fraud investigation
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.
Fetterman Defends Trump Foreign Policy Wins as Fellow Democrats Throw a Fit: ‘Removing Maduro Was Positive’
3 Days After Maduro’s Capture, And Trump Has Inked Multi-Billion-Dollar Oil Deal to Be Used to Benefit the Venezuelan and American People
Trump pulls US out of UN-linked migration forum in bold immigration move
Rubio outlines three-step plan about what comes next for Venezuelan government
Rubio lays out three-phase plan for Venezuela after Maduro: ‘Not just winging it’
‘Hands off Venezuela’ demonstrations kick off worldwide
House report suggests activist groups did not help fire relief efforts. They say otherwise
Mark Kelly Gives CNN Rambling Response When Asked If Troops Who Captured Maduro Should Have Disobeyed Their Orders
Marco Rubio Tells Lawmakers Trump’s Plan for Acquiring Greenland: Report
White House says Venezuela’s future ‘dictated’ by US as Trump embraces ‘American dominance’
Florida boater accused of killing teen in crash avoids jail time with plea deal
Slain Ohio dentist’s brother-in-law says ‘domestic dispute’ 911 call came from party guest, not wife
Watchdog urges DOJ probe of top research university over alleged illegal DEI practices: ‘Defies common sense’
Trump says US will always support NATO despite plans to invade or buy Greenland
DOJ sends prosecutors to Minnesota amid widening fraud investigation
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.
