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SAG-AFTRA Cuts Staff For Third Time During Pandemic, Offers More Dues Relief To Members In Financial Distress

SAG-AFTRA Cuts Staff For Third Time During Pandemic, Offers More Dues Relief To Members In Financial Distress

SAG-AFTRA said today that it has further reduced its workforce “across most operations and locals” through a combination of early retirements and job eliminations. This is the union’s third workforce reduction since the pandemic and production shutdown began in mid-March, and will bring the number of its employees to about 400 nationwide.

“Someday, this crisis will end,” said David White, the union’s national executive director. “For now, with cases spiking across the country and a second global surge possible this winter, we must take steps to further align expenses with anticipated revenues. Adjusting our staff size is difficult and painful, but unavoidable. I thank each and every person for their service and dedication to SAG-AFTRA members. We will continue to maximize all of our resources and deliver on our core functions while maintaining excellent service to members and move toward a leaner and more efficient operation.”

“We must act wisely and prudently to ensure a strong union while remaining a fierce and steadfast advocate for our members who also are facing COVID-19 related challenges,” said SAG-AFTRA president Gabrielle Carteris. “Our work over the last decade resulted in responsible fiscal management and consistent budget surpluses. Because of those surpluses, and with additional expense management, we are positioned to withstand the pandemic and serve our members for generations to come.”

SAG-AFTRA Approves $96 Million Budget, Expects Employee Furloughs & Work-Hour Reductions

In a statement to members tonight, White and Carteris said:

“We take this step in response to the accelerating impact of the pandemic on the union’s current and future financial condition. We live in extraordinary times. Across America, our people and institutions face unprecedented challenges as a result of the COVID-19 pandemic that continues to ravage our communities. SAG-AFTRA is no different in this respect. Our leadership and staff have confronted

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Goldman Offers Less-Dire View of Pandemic’s U.S. Economic Damage

Goldman Offers Less-Dire View of Pandemic’s U.S. Economic Damage

(Bloomberg) — The U.S.’s economic scarring from the pandemic is much less severe than initially feared, Goldman Sachs Group Inc.’s economics team said in a note that offered an upbeat take on America’s situation.



a group of people walking down a street: People sit in a seating area in Times Square in New York, U.S., on Friday, Oct. 2, 2020.


© Photographer: Michael Nagle/Bloomberg
People sit in a seating area in Times Square in New York, U.S., on Friday, Oct. 2, 2020.

Commercial bankruptcy filings are below the pre-pandemic level, business closures have proved temporary and unemployment has fallen sharply, which bode well for medium-term recovery prospects, economists said in the note. A vaccine, combined with further fiscal support next year, is expected to limit long-term damage and keep the economy on track for a recovery that could “much more rapid than usual,” they said.

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“When employment declined by 25 million in little more than a month, the labor market appeared at risk of again experiencing the deep distress seen after the financial crisis,” the economists including David Mericle said in the note. “Just five months later, the number of newly unemployed workers since the virus shock has indeed declined dramatically, and about half still report that they are on temporary lay-off.”

Despite a recent increase in long-term unemployment, the rapid recovery of labor demand and faster pace of labor reallocation should help most workers avoid long unemployment spells seen in prior recessions, the note said.

The decline in the labor-force participation rate since February largely reflects virus-related obstacles to taking part that should disappear with a vaccine, such as fear of getting sick or a need to take care of children while schools are closed, they said.

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©2020 Bloomberg L.P.

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