Cinemark is an American movie theatre chain owned by Cinemark Holdings which is operating throughout America and Taiwan. Cinemark operates theaters under several brands, including its flagship Cinemark, Century Theatres, Tinseltown USA, CinéArts, and Rave Cinemas. Effective March 18, 2020, Cinemark closed all of its 345 theatres across the United States for an indefinite period due to the coronavirus pandemic. Like any other theatre chain Cinemark is also struggling to pay their workers with no real work to offer. Now, Cinemark lays off 17,500 domestic hourly employees who have been working in their theatres.
Due to the COVID-19 pandemic around 17,500 domestic hourly theater employees have been terminated by Cinemark while the salary of the other workers has been reduced by 50%. Earlier this week Cinemark had announced that they will be selling $250 million in debt securities. We hope this situation changes soon and people who have been terminated finds a job very soon. Every single industry across the globe is affected in a similar way.
14/04/2020 02:56 PM
14/04/2020 11:21 AM