AMC Theaters, America’s largest theater chain, has furloughed its entire 600-person corporate staff—including its CEO Adam Aron by MadelinePBerg
in order to follow proper social distancing guidelines and stop the spread of the coronavirus, AMC Theaters, America’s largest theater chain, furloughed its entire 600-person corporate staff, including its CEOLast week, the chain announced that it would close more than 1,000 theaters worldwide in order to slow the spread of the coronavirus.26,000 of it employees who work at theaters, from concession sellers to ticket collectors.
With few open theaters, U.S. box office revenue is nearing zero, with last weekend’s domestic box office total at only $3,920. By the end of the crisis, domestic box office losses could totalIn a statement, AMC said the furlough is “absolutely necessary to preserve cash and reopen our doors.” Under the furlough plan, some employees will continue to work, just with reduced hours and pay, while others will stop working and collect no pay. 42%. That’s how much AMC’s stock has fallen in the past month. The number will likely increase the longer that theaters are forced to remain closed.
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