Cinemark, the third-largest theater chain in the U.S. has laid off thousands of employees, while issuing widespread furloughs and pay cuts.
To help keep their doors open long-term, Cinemark has had to significantly cut costs, and that has led to sweeping job cuts.
In the filing, Cinemark explained that there is uncertainty surrounding these tax benefits, but they remain optimistic for the future.
Additionally, 50 percent of Cinemark’s corporate employees were furloughed, receiving 20 percent of their salary and full benefits.
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