Cinemark has become the latest exhibition chain to lay off or furlough employees to cut costs amid theater closures caused by coronavirus pandemic restrictions.
In an April 14 SEC filing that follows a $250 million debt offering, parent Cinemark Holdings revealed it had laid off over 17,500 domestic hourly theater employees.
The chain has also furloughed 50 percent of its headquarters corporate employees at 20 percent of salary, and with full benefits.