AMC Theatres furloughs CEO, company workers because of the virus – Reuters

AMC Theatres furloughs CEO, company workers because of the virus – Reuters

The AMC Theatres in the Georgetown neighborhood is closed because of the a world outbreak of coronavirus disease (COVID-19), in Washington, U.S., March 20, 2020. REUTERS/Joshua Roberts

LOS ANGELES (Reuters) – AMC Leisure Holdings Inc (AMC.N), the field’s greatest theater operator, has positioned its chief govt and all of its company workers on furlough to sustain money at some level of the coronavirus outbreak, a company spokesman said on Wednesday.

AMC’s 1,000 theaters round the field were closed last week to wait on prevent the radical coronavirus from spreading.

“This leaves AMC with no revenue, and mountainous fastened costs that continue,” AMC spokesman Ryan Noonan said.

The furloughs apply to Chief Executive Adam Aron and assorted workers on the company’s headquarters in Leawood, Kansas. Some workers will look diminished hours and diminished pay, whereas others will likely be reduce to no hours and no pay.

The step used to be “completely indispensable to sustain money and to develop certain that AMC can reopen our doorways once this health crisis has dissipated,” Noonan said.

Film theaters personal long gone dark worldwide and some operators are panicked they are going to no longer be ready to reopen if the shutdown extends for months. The Nationwide Affiliation of Theatre House owners has called on the U.S. Congress and the Trump administration to create emergency aid.

AMC’s furloughs will extend for the “with any luck short timeframe” that all of its theaters are closed, Noonan said. Workers will sustain health advantages at some level of that time.

Reporting by Lisa Richwine; Editing by Tom Brown

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March 26, 2020

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