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Richard Gelfond
China
Canada
Japan
Imax Furloughs 150 Employees Amid Pandemic Impact
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hollywoodreporter.com
hollywoodreporter.comImax has furloughed around 150 employees for two months, starting on Oct. 26, as fewer Hollywood tentpoles are anticipated at the local multiplex ahead of Christmas.
The large format exhibitor, which is led by CEO Richard Gelfond, in a statement to THR said the cost-cutting, which as yet calls for no layoffs, will fall mainly on workers in the U.S.
and Canada, and partly in Europe. "The move will enable the company to temporarily retrench, conserve resources and adjust its operations to reflect the lack of Hollywood releases in 2020, and the resulting closures of exhibitors in key markets.
The furloughs will not impact Imax operations in China and Japan, where local language films remain on the slate and theatres are fully open," the.
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