have been the sector hardest hit. They have now starting to lay off staff in droves, with CGV recently laying off as much as 30% of its workforce, according to the financial magazine Economic Weekly.
“China’s national box office is nearly zero, a large number of film crews have suspended their work, and a large number of in-progress projects have had to delay their pre- and post-production,” it explained. A top comment on China’s Twitter-like Weibo platform wrote in response to the news: “The big stars upstream won’t be affected, those mid-stream [in production] will see some ups and downs, but [cinemas] downstream will face hardships and privations…unemployment this year will surge, in all areas.”
A cinema investor told the Economic Weekly that “the cash flow of some larger cinema chains can sustain them for five months, but the time when we can re-open is far in the indefinite future, so we have to lay off staff and cut costs.”
You mean propaganda centers.
I’m hoping the world pulls out of China completely and everything goes out of business. Only then will the people rise up against the communists there.
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