WME has cut about 3% of its staff across a range of divisions, impacting around 30 employees at the talent agency.
In a memo to staff, WME co-chairmen Christian Muirhead and Richard Weitz said the move was aimed at “reducing layers” and “removing bureaucracy” at the firm, which has a total of about 1,100 staffers.
“Since going private nearly one year ago, we’ve been working diligently to strengthen our organization by reducing layers, increasing responsibilities, and removing bureaucracy, in a singular effort to stay out in front,” the pair wrote. “As such, today we have made the difficult decision to reduce a number of roles across the agency.”
The layoffs come as the industry is undergoing “profound change — from consolidation and shifting economics to new technology and evolving client needs,” the pair noted. They also touted new platforms that are “creating more opportunities than ever for talent and creators to reach audiences around the world.”
WME says it plans to complete conversations with impacted individuals by the end of the week and is committed to supporting employees during the transition.
“Looking ahead, we’re focused on shaping the agency for the future by building on our scale and experience and capitalizing on our industry-best capabilities and client strategy,” the memo concluded. “Thank you for continuing to show up for one another and for our clients. We appreciate your professionalism and commitment.”
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