LOS ANGELES (CelebrityAccess) — The WME owned agency IMG has said that it will be cutting 100 staffers across the company, representing about 3% of their total employment roll.
"These decisions aren't easy, but they are necessary for us to best position IMG for future growth and success,”WME's Ari Emanuel and Patrick Whitesell said in a memo on Monday. “These changes will allow us to more effectively invest in our future through acquisitions; to re-allocate our resources to high-growth businesses; and ensure we realize our full potential across WME | IMG."
Since the acquisition announced in December 2013, the two companies have largely kept their operations separate, but that is changing as the two firms prepare to integrate more closely, and it is likely that many of the employees facing cuts are in administrative and financial roles that are redundant with existing WME positions, Variety reported.
Other changes at the agency since the merger and a number of senior executives have departed the firm, including George Pyne, president of IMG Sports and Entertainment, who left last summer, Deadline Hollywood reported. – Staff Writers