AUGUST 12, 2022 — 60 EMPLOYEE LAYOFFS — WARNING OF THINGS TO COME?
Against the background of a prolonged entertainment industry strike, CAA has announced plans to lay off 60 employees across all departments.
The company is reported to be in advanced talks to sell a majority stake to billionaire Francois-Henri Pinault, who is tipped to take the company off the hands of private equity giant and current majority stakeholder TPG.
JULY 14, 2022 — Original post…
Los Angeles, California-based CAA (Creative Artists Agency) a full-service Hollywood talent agency that recently acquired Hollywood Talent Agency ICM Partners (International Creative Management) in a $750 million transaction, has announced a limited post-merger consolidation.
The consolidation will impact 105 employees following the close of the transaction. 425 ICM employees will join CAA bringing the combined staff to an estimated 3,200 employees.
According to a joint statement issued by senior management, "Today marks a new chapter in the history of our company, positioning us better than ever to deliver extraordinary opportunities for many of the world’s preeminent artists, athletes, thought leaders, brands, and organizations in entertainment, sports, and culture. We are thrilled to welcome our new ICM colleagues to CAA, and look forward to combining their expertise, relationships, and resources with those of our agents and executives around the world.”
Like all mergers, look for future continued cost-cutting initiatives to exploit synergies and reduce duplication of services.
Another opportunity to reduce headcount might come in 2026 when CAA moves its headquarters across the street to a new 37-story tower where it will have its own entrance, lobby, and parking.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?