Things aren't looking good for Will Smith after the actor smacked Chris Rock in the face at the Academy Awards last week. 

It has been claimed that high-ranking executives at his prestigious talent agency are debating whether or not to fire him as a result of his actions. 

Bryan Lourd, Richard Lovett, and Kevin Huvane of the Creative Artists Agency faced a major crisis when their client, who had just won the Academy Award for Best Actor, smacked Chris Rock across the face after joking about Jada Pinkett Smith's hair, according to The Daily Beast.

According to the site, an internal argument regarding the slap gate dominated a leadership conference at a very posh property in Rancho Palos Verdes that was attended by executives. 

It was claimed to the outlet by three separate sources who talked with Lourd at the event that he advised numerous individuals that the agency, which is in the process of purchasing rival firm ICM, which represents Rock, should get rid of the "King Richard" star. 

In the aftermath of the scandal, Lovett, who represents Smith personally, was said to be "frazzled," although he later clarified that he did not wish to dismiss Smith. 

The situation for the agency was exacerbated even further by the fact that CAA is affiliated with the infamous movie mogul Harvey Weinstein, which added to the problems. 

But the bottom line is that Will Smith remains on their roster despite his departure from the Academy and despite the controversy about him assaulting Rock on live TV. CAA has determined that it is in their best interests not to terminate the contract of the "Fresh Prince" actor. 

However, spokeswoman for the agency, speaking to Source Material, rejected the outlet's assertions, saying, "There is no truth to any of it." "It just didn't happen." 

Future of Will Smith's Projects In Peril 

Meanwhile, several of Will Smith's projects are presently in peril as a result of his contentious performance at the Oscars in 2022. 

According to a story published by The Hollywood Reporter, his forthcoming film, "Bad Boys 4," has been placed on hold for now. 

Even his next Netflix movie "Fast and Loose," which according to the publication has been "placed on the back burner," has been shelved. 

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Will Smith Resigned from Academy - What's Next?

Following Will Smith's resignation from the Academy, Variety delves into what this means for him. 

According to the site, a formal inquiry will take place on April 18 and at that point, the organization may decide to inflict penalties in accordance with its statutes. 

However, what this means for him is that he will be able to retain his Best Actor Oscar, will be invited to future Academy ceremonies, and will be nominated for future consideration, but he will no longer be a voting member of the Academy.

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Tags: Will Smith chris rock Oscars 2022