Vista plans to save up to $15m from staff layoffs

Thu, 04 Jun 2020

Vista Group International said it wants to cut annualised costs by between $12 million and $15 million through laying off staff as cinemas - who account for more than 80 percent of its customers - are still largely closed. "We are operating in a situation where we do not know when our customers will be able to reopen in a meaningful way," said chief executive Kimbal Riley in announcing the decision to cut costs."This has had, and continues to have, a significant impact on their businesses, and therefore ours," Riley sai...

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