Cineplex says workforce changes due to the COVID-19 pandemic have impacted more than 130 staff members across Canada and the US.
And, the termination of the Cineworld transaction also had a significant impact on the company — the deal was worth $2.8 billion.
“While we are confident our business will recover, in the short and medium-term we are focusing on a smaller number of projects and priorities supported by a sustainable financial model,” Cineplex spokesperson Sarah Van Lange told Daily Hive in a statement.
“As a result, we had to make the difficult decision to scale back our resources and reduce the size of our full-time workforce.”
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The staff affected at Canada’s largest movie theatre chain includes senior executive retirements and departures over the coming months.
“While we can’t predict the future of the pandemic or the impact it will continue too have on our business in the months to come, we believe that we will come out of these times stronger. We are one of Canada’s leading entertainment and media companies, and we are taking steps to stay that way,” Lange said.
The company will also not be opening their theatres in Ontario on Friday, as 24 regions in the province enter Stage 3 of reopening.
According to Lange, there are not in a position to reopen, even though they welcome the news of the province’s progress.
But in British Columbia, select theatres began opening up at the start of July.