CAA Reduces Workforce: Layoffs and furloughs are underway in Nashville as CAA is cutting 90 agents and executives and furloughing 275 support staff across Los Angeles, Nashville, New York and London offices. Citing "greater visibility into the COVID-19 challenges of fiscal year 2021," the company is reducing its workforce but will pay health plan premiums for furloughed workers. "Everyone at the company participated in reducing compensation with the hope that we could keep all employees financially whole through the end of our fiscal year (9/30)," a statement reads. "We are honoring that commitment, including for those impacted by today’s announcement." The statement concludes, "This is a painful and unprecedented moment, and words are insufficient ... We extend our sincere appreciation and deepest gratitude to our departing colleagues."