SeaWorld Entertainment has announced a company restructuring which will see 320 jobs cut after a sharp dip in attendance.
The cuts will be spread across the company’s 12 theme parks, including its SeaWorld parks in Orlando, San Diego and San Antonio, in addition to its Sesame Place attraction in Pennsylvania and Busch Gardens in Florida and Virginia. The company’s headquarters in Orlando will also be affected.
SeaWorld submitted a Securities and Exchange (SEC) filing in line with the restructuring, stating that the move is part of
previously-announced plans to cut costs by around US$65m (€61.2m, £51.6m) by the end of 2018. According to the filing, the jobs will have been eliminated by the end of this month.
“Overall, we are seeing indications of stabilisation, and we believe our results by the end of 2017 and beyond will materially benefit from our focus on significant cost reductions, our brand repositioning, our strategic marketing and pricing initiatives and our continued commitment to consistent and disciplined capital investments,” said SeaWorld CEO Joel Manby, speaking in November.
September’s Hurricane Hermine and other adverse weather hit attendance at SeaWorld’s northeastern locations, alongside a decline of around 93,000 Latin American visitors compared to Q3 2015.
This is the second time in recent years that SeaWorld has had a round of mass cuts. The company released more than 300 employees in 2014 after its reputation took a hit in the wake of
Blackfish – a documentary highlighting the dangers of cetaceans in captivity. Severance and job placement packages are reportedly being offered.
