National CineMedia has begun to furlough its staff as it deals with the fallout on major exhibitors from the novel coronavirus pandemic.
The in-theater advertising firm in a statement Friday confirmed to The Hollywood Reporter that "it is instituting cost savings measures going forward to help the company weather the COVID-19 storm while movie theaters remain closed, including salary reductions and furloughing a portion of its staff." No number was put on the number of furloughs, nor is there an indication on when they will be introduced.
Though unconfirmed, it's understood that around 15 percent of staff at National Cinemedia will be laid off by mid-April. "It (National CineMedia) is continuing to work together with its longstanding brand.