“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,” said Eric Belcher, chief executive officer. “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 provides services related to payroll, human resources, accounting, finance, workflow and productivity to the entertainment industry. It has about 700 employees.
Salary reductions include 50% for the executive management team members and 25% for vice presidents and other senior employees. The company also decreased hours for a portion of the staff and furloughed “a significant” percentage of employees for an unspecified period.