Paradigm Talent Agency Chairman and CEO Sam Gores sent out a letter to company employees today informing them that the “temporary layoffs” announced six months ago are now permanent.
“With disappointment and sadness, today we have informed the temporarily laid off employees whom we have not been able to reinstate that they will be transitioned to permanent layoff,” Gores wrote in the letter. “As you know, over the last six months, we have brought back as many of our temporarily laid off colleagues as we could; unfortunately, the profound effects of the coronavirus have continued to severely impact every aspect of our industry and our world for longer than we had even imagined six months ago. Consequently, we have had to examine every aspect of our business and make this difficult decision.”
“We are grateful for the work of the affected team members on behalf of the company and our clients — we thank each of them for their service to Paradigm. As these colleagues and friends begin their next chapters, we wish them only the best.”
In March, when Gores initially announced the temporary layoffs, Pollstar reported 100 of the company’s 700 employees were affected.
A group of former Paradigm agents recently launched TBA, bringing The War On Drugs, Courtney Barnett and Chvrches.
Paradigm has been the subject of buyout rumors for the past several years, with potential buyers including CAA, UTA and – most recently – Casey Wasserman’s Wasserman Media Group.