South African cinema giant Ster-Kinekor has announced plans to lay off 236 employees in a restructuring effort in the face of declining attendance numbers.Ster-Kinekor said factors like the challenging economic environment, load-shedding, and the impact of the Hollywood strikes had resulted in substantially lower cinema attendance.
It served staff with a section 189 notice on 13 February 2024, beginning the retrenchment of 236 of Ster-Kinekor’s 728 employees. The company, which holds the majority of South Africa’s cinema market share, also revealed plans to shutter up to nine cinemas in South Africa’s most populous provinces.In the Western Cape, only Bayside is in the firing line. In Gauteng, it will close Cedar Square, Maponya, Matlosana, Southgate, and the iconic Sterland.
However, the closure of cinemas, limiting seating capacities, and implementation of curfews resulted in substantial financial losses for the company.
Cinemas Greenpoint Capital Headline Job Cuts Lynne Wiley Ster Kinekor Broadcasting
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