Hollywood Agents Whacked by Recession

Hollywood's toughest power-brokers—the big shot "10 percenters" of the top talent agencies—are no longer immune to recession, reports the Independent. With the merger between once-rival agencies William Morris and Endeavor officially approved, 100 top agents got the ax. Officials of the new agency hope the firms' combined strength will help it weather the economic downturn, which has led to industry-wide salary cuts.

"The fallout hasn't really begun. I expect a waterfall in the coming months," said Frank Wuliger of the Gersh Agency. "When agents get fired, the actors they represent think again, because the agent-client relationship is intimate; it's like a marriage."