SeaWorld Entertainment has announced that they will cut over 300 positions. The layoffs are part of their restructuring plan, which will occur for all 12 parks across the country, and this is their largest layoff project since 2014, says Click Orlando.
The restructuring process will involve the combination of layoffs and eliminate already vacant positions within the corporation. They did not, however, provide a breakdown as to which jobs or departments will receive cuts, says Orlando Sentinel. These positions total about three percent of their workforce. Also, the company operates the Busch Gardens theme parks as well as the Aquatic water parks.
For sure, 60 jobs will be cut at the SeaWorld San Diego location, says 10 News.
The company has filed a notice of massive layoffs with the state’s Employment Development Department. They stated that 60 employees in San Diego’s location would be laid off, which included five merchandise supervisors, painters, assistant curators, and the education as well as promotional departments would be affected.
The job cuts include hourly and salaried workers.
The company claims they are changing these positions to improve their long-term success.
SeaWorld Struggling to Perform
It is necessary for them to survive. SeaWorld’s third quarter results were less than stimulating, with them showing revenue down by $11 million and their overall net income down by $32 million compared to 2015’s performance.
During the third quarter, the company received flat attendance and they saw a two percent decline due to unfavorable park attendance a well as international attendance numbers down for their Florida locations.
The company is creating their cost optimization program, which will help them reduce expenses and potentially restructure for better earnings in 217.
They expect that the job cuts, while painful, will help them reduce their overhead expenditures by $65 million and they think that will yield a net savings of $40 million by the end of 2018, reports Click Orlando.
Florida as a whole has experienced declining tourism numbers, especially with the number of accidents and deaths surrounding popular parks in the area. After all, a small boy was killed by an alligator at Disney World’s Grand Floridian Resort, a singer was shot to death, and the Pulse shooting massacre occurred all in the same period.
The Brazilian economy is also struggling, which is why Brazilian tourism is down in Florida all around.
SeaWorld did say that those losing their job would receive severance benefits that were “enhanced,” though they did not share details as to how they would be enhanced for those being laid off.
The longtime animal ambassador of SeaWorld, Julie Scardina, announced that she was retiring on social media. It was not clear if she was retiring due to the restructuring or if that was an unrelated event.
SeaWorld still has not improved since their layoff a few years ago; therefore, they are forced to cut more jobs to recoup their losses and potentially position themselves back as a top entertainment park in the country.