AMC Theatres Lays Off 35 Corporate Staffers
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AMC Entertainment has laid off 35 corporate staffers and will not fill an additional 15 open jobs.
The Kansas-based chain made the announcement Thursday as part of a previously announced “profit improvement plan” intended to achieve operating and administrative efficiencies.
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AMC, which operates more than 10,000 movie screens, had disclosed the plan on Aug. 8 when it reported a 4.4% gain in second-quarter revenues to $1.506 billion and earnings that had more than doubled to $49.4 million.
Adam Aron, CEO and president of AMC, noted that AMC outperformed the rest of the U.S. industry in attendance per screen and in admissions revenue per screen. The chain also reported earlier this month that its AMC Theatres’ Stubs A-List program, which allows customers to see three movies a week for $19.95 a month, has hit 900,000 subscribers — far ahead of the original projection, announced 14 months ago.
A spokesperson noted Thursday that since 2013, full-time employment at AMC’s home office has grown from less than 400 to well over 600 associates.
“However, as announced during a recent conference call with investors, the company is implementing a profit improvement plan intended to achieve operating and administrative efficiencies,” the spokesman said. “This has resulted in difficult but necessary organizational changes, including the elimination of 35 jobs and 15 open positions at the company’s base of operations. AMC is offering all affected associates severance benefits and outplacement services, including access to a job-search and career-support firm.”
The spokesman added, “Because of AMC’s leadership position in the operation of cinemas and its proactive desire to operate more efficiently, AMC is confident that its future is a bright one.”
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