SeaWorld will not lay off large number of employees
After the end of furlough payments many former SeaWorld employees will not return to work.
SeaWorld Entertainment (NYSE: SEAS) says it won't bring back some of the thousands of workers it previously evicted during the coronavirus pandemic. SeaWorld, in a filing with the SEC, says it has "committed to a layoff plan that will affect some of the company's employees on leave," without disclosing how many workers were laid off permanently or which theme parks were affected. However, the company anticipates that it will incur restructuring and severance charges in the third quarter of between $ 2.5 million and $ 3 million. SeaWorld had approximately 4,300 full-time employees and 11,000 part-time employees at the end of 2019; at some point the company laid off 95% of its employees. Josh Arnold, who works at Seeking Alpha, recently made a profit-taking plea for SeaWorld Entertainment, saying the reopenings are progressing slower than expected.