The company that operates the movie theatre in Burnaby’s biggest mall - and is building two more projects in another Burnaby mall - has announced job cuts.
Cineplex Inc. has reopened the theatre in Metropolis at Metrotown, but says it is laying off more than 130 workers as the company continues to grapple with the COVID-19 pandemic and a takeover deal that has turned litigious.
Cineplex was in the middle of building two projects at the Amazing Brentwood in Burnaby – a VIP theatre and a Rec Room entertainment complex – when the pandemic hit. Those two projects were set to open in the spring. The NOW has reached out to Cineplex about the status of those projects.
The Toronto-based theatre chain says workers in Canada and the U.S. are impacted by the cuts, which includes senior executives due to retire.
Cineplex says it is confident its business will recover from the COVID-19 closures but in the short- and medium-term it will focus on a smaller number of projects and priorities.
It is in the process of reopening many of its theatres that closed as the pandemic began to spread and is implementing distanced seating, reservations and additional cleanings.
Cineplex is also suing U.K.-based Cineworld Group PLC, which was due to purchase Cineplex for $2.8 billion, but walked away from the deal because of alleged material adverse effects and breaches of contract.
Cineplex has denied the claims and says Cineworld is backing away from the deal because of buyer’s remorse.
- With files from the Canadian Press
