In the latest development of Ster-Kinekors planned restructuring, the South African cinema giant says it has emerged from the process with fewer job cuts than anticipated.
It averted retrenching 236 employees and shutting nine cinemas as part of its overhaul. Instead, fewer than 60 jobs were cut and only two cinemas were closed.
According to the groups CEO, Mark Sardi, exciting plans to diversify its offerings to draw audiences are currently underway.
Sardi said the softer blow to the business was due to successful talks with landlords and distributors about restructuring operations as well as other cost-cutting measures implemented.
Curtain call for Ster-Kinekor cinemas avertedIn April, Ster-Kinekor announced that it has earmarked nine cinemas for closure while reviewing several others in Gauteng, KwaZulu-Natal and the Western Cape.
