Amid several challenges, Ster-Kinekor intends to shut down nine of its cinema locations, retrenching almost a third of its workforce.
Ster-Kinekor is preparing to lay off almost a third of its 728 employees amid plans to close up to nine of its cinemas in Gauteng, KwaZulu-Natal, and the Western Cape.The cinema chain has stated that it needs to undergo restructuring due to factors such as a challenging economic environment, load-shedding, financial constraints, and the impact of the Hollywood strikes which saw many movie releases have been moved to 2025.
“As these are forces largely out of the business’s control and the financial impact is likely to endure for some time, Ster-Kinekor Theatres has had to review its cost structure to ensure the continued survival and sustainability of its business,” the company said.Ster-Kinekor served staff with a section 189 notice back in February 2024, beginning the retrenchment process of 236 of its 728 employees.
Affected positions include those in the CEO’s office, marketing, sales, human capital, business operations, content, finance, head office, regional operations, and information technology. Additionally, the company announced a review of eight more cinemas—Secunda, Wonderpark, Bedfordview, Cradlestone, Mooi River, N1 City, Rosebank Nouveau, and Rustenburg—for potential closure. This could lead to the loss of 69 jobs.In January 2021, Ster-Kinekor entered business rescue due to the severe effects of the Covid-19 pandemic and lockdowns.
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Ster-Kinekor slashing jobs, closing cinemasSter-Kinekor’s planned job cuts will affect nearly a third of its workforce.
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Ster-Kinekor to lay off 236 employeesThe affected departments include information technology, business operations, content, finance, head office, regional operations, and cinemas.
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