APA Sets Salary Cuts and Furloughs in Wake of Covid-19 Pandemic
Following within the steps of a number of companies coping with the coronavirus, APA has knowledgeable all workplaces of upcoming wage cuts together with attainable suspensions and furloughs for workers as a result of pandemic’s financial impact on the trade.
APA board of administrators will make the biggest monetary sacrifice.
The transfer has been made to keep away from layoffs just like those made by UTA and Verve, which made related choices following Paradigm’s drastic resolution to briefly lay off greater than 100 staff.
It’s unknown what number of staff might be a part of the furloughs, although sources say staff with salaries below $100,000 won’t have their wage minimize.
The next memo was despatched to staff throughout the corporate:
COPYRIGHT_BP: Published on https://bingepost.com/apa-sets-salary-cuts-and-furloughs-in-wake-of-covid-19-pandemic/77132/ by Cecilia Jones on 2020-03-28T00:53:07.000Z
With the U.S. now the epicenter of the worldwide pandemic, greater than 1 / 4 of the world’s inhabitants on lockdown, file unemployment, a public well being disaster extra dire than ever identified in our company’s 58 12 months historical past, and a monetary impression worse than 9/11 and the Housing Disaster mixed, APA like so many different corporations throughout our trade and the world should take speedy and considerate motion to make sure our firm will traverse these unchartered waters and emerge as robust as attainable.
To fight these unprecedented instances, we’re taking the required cost-cutting measures companywide to guard our enterprise with minimal impression on our most weak staff. Whereas now we have by no means within the historical past of this company had a harder problem to beat, APA’s senior administration crew is 100% targeted on overcoming the widespread hurdles we’re all now dealing with. With braveness and compassion, we’ll all get by this collectively.
As each facet of our lives is being affected throughout the globe, we’re continually conscious of defending our private well being and safeguarding our households. Our hearts exit to our colleagues in New York, now on the epicenter of this public well being disaster within the U.S., in addition to these in different APA workplaces throughout the nation that now discover themselves in hotspot zones. Our doorways could also be closed however our hearts and minds stay open. We all know these circumstances are extraordinarily tough for everybody, however as all of us proceed to battle in opposition to this virus, APA stays steadfast and vigilant in our dedication to do all the things we are able to to win for our colleagues, purchasers and communities who’re all the time prime of thoughts.
Deadline Hollywood first reported the information.