Cast & Crew Implements Furloughs, Pay Cuts Amid Coronavirus Outbreak

Cast & Crew - H - 2018
Cast & Crew

The payroll and human resources software company will temporarily suspend "a significant percentage" of its workforce, while its executive management team will receive a 50 percent pay cut.

Cast & Crew, the entertainment industry's ubiquitous payroll, accounting and human resources software brand, is following other companies' leads in implementing furloughs and pay cuts amid the coronavirus outbreak.

The company, which also offers workflow and productivity software, on Thursday announced that it would furlough "a significant percentage" of its workforce and reduce hours for remaining employees. Members of the firm's executive management team will receive a 50 percent pay cut while vps and "senior employees" will receive a 25 percent pay cut.

“Cast & Crew and companies across all industries have been focused on the well-being of their employees and their families, as well as the ongoing financial condition of the company,” CEO Eric Belcher said in a statement. “After?evaluating our options given the temporary entertainment?industry slowdown caused by COVID-19, we are?taking several actions to align our costs to the economic situation in the industry we serve.”

The company plans on giving furloughed employees immediate payment for vacation hours they accrued and continued healthcare coverage. Furloughed employees will still be able to apply for federal coronavirus aid and state unemployment insurance.

With this decision, Cast & Crew follows the lead of agencies including CAA, Paradigm, UTA and Endeavor, as well as entertainment companies including The Walt Disney Company and AMC Theatres, in furloughing staff and/or cutting pay and hours as coronavirus shutdowns financially challenge the entertainment industry.

“Our goal is to successfully?navigate?through this period and?minimize?the negative impact,” Belcher added. “We then?can?resume?full operations and bring?our team back together when the situation turns around. We remain very optimistic regarding the future of the entertainment production industry, and our company’s place in it, once this unfortunate health crisis recedes. With the increasing demand for and consumption of streaming and other types of video content, we expect production to come roaring back as soon as travel restrictions and social distancing requirements are lifted.”