AMC Theatres Furloughs CEO and Staff as Coronavirus Pandemic Closes Cinemas

Last week, AMC announced more than 600 venues in the U.S. and over 1,000 theaters worldwide are indefinitely closed because of the global health crisis.

“At this time, AMC is not terminating any of its corporate employees, however, we were forced under the circumstances to implement a furlough plan, which is absolutely necessary to preserve cash and to ensure that AMC can reopen our doors once this health crisis has dissipated,” the company said in a statement.

More to come…