Number of the Day Shows More Movie Theater Jobs at Stake
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That’s how many U.S. movie theater jobs may be at risk if other cinemas follow the path of Regal, which said Monday it would temporarily close all 536 of its theaters across the country because of the pandemic.
While the Regal shutdowns alone will affect about 40,000 workers when theaters are closed later this week, 66% of the nation’s 150,000 theater jobs will be lost if financial trends continue, industry groups predicted in an impassioned letter to Congress last week. The National Association of Theatre Owners, the Directors Guild of America, and the Motion Pictures Association called the pandemic a “devastating” financial blow, pleading for assistance.
It was only just Aug. 21 that Regal began re-opening after a months-long COVID-19 shutdown. But government restrictions have continued to ban theaters from operating in major markets such as New York, so studios have been reluctant to release their pipeline of new films, according to Cineworld, Regal’s parent.
If you think you’re vulnerable to being laid off, you may need to rely on savings to get by until unemployment benefits kick in or income from a new job arrives. Financial advisers say an emergency fund should cover three to six months of expenses.
National Association of Theatre Owners. "Creatives Letter to Leadership." Accessed Oct. 5, 2020.
PR Newswire. "Regal to Temporarily Suspend U.S. Theatre Operations on October 8." Accessed Oct. 5, 2020.