EMCC European Monitoring Centre on Change

Cinemaworld

Company/Organisation:
Cinemaworld

Geographic Location

Country: World
Location of affected unit(s): United Kingdom, United States

Company

Sector: Information / communication
Publishing, audiovisual and broadcasting activities
59.14 - Motion picture projection activities

Employment Effects

Announcement Date: 05-10-2020
Planned Job Reductions min: 45000
Type of Restructuring: Internal restructuring
Employment Effect Start: 08-10-2020

Additional Information

British cinema company Cinemaworld announced that it will cut 45,000 jobs worldwide, including 5,500 jobs in the United Kingdom and 20,000 in the United States. The cinema chain will temporarily suspend operations at all of its UK and US theatres from 8 October 2020; the move will affect 536 Regal theatres in the US and 127 Cineworld and Picturehouse theatres in the UK. The restructuring programme is related to the COVID-19 pandemic; the cinema industry has been facing difficulties associated with pandemic safety measures as well as the delay of key films.

Cinemaworld has been operating since 1995. The company is the world’s second-largest cinema chain, with over 9,500 screens in ten coutries: the Uk, the US, Ireland, Poland, Romania, Israel, Hungary, Czech Republic, Bulgaria and Slovakia. The group's primary brands are Cineworld and Picturehouse in the United Kingdom and Ireland, Cinema City in Eastern and Central Europe, Yes Planet in Israel, and Regal Cinemas in the United States.

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