New York-based Paradise Music & Entertainment has cut its workforce by a third and reduced salaries worldwide. The move comes after a slowdown of film and television work stemming from the SAG/AFTRA strike.

Most of the thirty firings were in the Paradise film and TV group, which produces original advertising for a list of clients including Nike, ESPN, and Chevrolet.

Paradise also reported a second-quarter net loss of $2 million.

Jay Moloney, a once powerful talent agent who represented Steven Spielberg and Martin Scorsese, formerly headed Paradise. Moloney became its president in May 1999 before committing suicide last November after a long history of drug abuse.