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IMAX to Lay Off 100 Employees Amid Restructuring
June 13, 2017—IMAX will lay off roughly 100 full-time employees as part of a company-wide effort to rein in costs, Variety
reports. The layoffs will take place across nearly every division,
including its finance, marketing, and entertainment arms, as well as
staffers in its China joint venture. The layoffs took place on Monday
and are expected to result in a one-time impairment charge of
approximately $15 million related to severance packages and other costs
associated with the job cuts. Read the full report from Variety here.