Tuesday, January 08, 2008

Axium Payroll Services Implodes

I planned to get out to the studios this afternoon, but a bunch of phone calls re this stopped me:

Axium International, the industry's largest payroll services providers as well as a source for production and gap financing, has closed its doors indefinitely.

The company's home office on Wilshire Boulevard as well offices in Burbank, New York, Vancouver, Toronto and London are quiet, with employees told via e-mail not to show up to work starting Tuesday.

Cartoon Network has payrolled through Axium like forever. Ditto Richcrest Animation.

I'm informed Starz Media (Simpsons, King of the Hill, etc.> recently moved its payroll operations from the payroll company Entertainment Partners to Axium. Today I've been told Starz Media has moved its payroll back to Entertainment Partners.

They sort of had to. There's not much of anybody at ol' Ax to answer the phone.

Right now we're in the process of trying to sort things out from our end of things. There's a bunch of pension contributions that need to be made, and our goal is to insure that nobody gets shafted in the fallout from all this.

There's lot of speculation about why Axium went down so abruptly, but no hard facts. I'm guessing there was a chronic cash flow problem.

9 comments:

itfemail said...

Did you work in the CA or NY office? My dad got 'ax'ed from Axium after 10 years of loyalty. He is dumbfounded over the abruptness and has been rushed find another job (seeing as now there is NO income in his household). I am desperately trying to find him work and recently found him health coverage cheaply as COBRA is not an option. This truely stinks!

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financial said...

Talk about a major day 'bummer'.

Anonymous said...

The powers that were at Axium embezzled millions from the company, bought homes in other countries, and moved there. You'll never see them in America again.
"Money corrupts absolutely".

Fish

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