Economy 52,861 Posted March 23, 2020 Share Posted March 23, 2020 https://www.bnnbloomberg.ca/cineplex-laying-off-thousands-instituting-pay-cuts-in-wake-of-virus-outbreak-1.1410874 Cineplex which now has essentially no business has had to take massive measures for cuts cutting including laying off 70% of its workforce and even cutting CEO and Executive Board members pay Company says salary cuts and layoffs should be reversed when things go back to normal Link to post Share on other sites More sharing options...
Maleficent 6 Posted March 23, 2020 Share Posted March 23, 2020 honestly if this virus remains an issue into 2021, I fully believe the full switch will finally happen from movie theatres to online streaming. I think the only movie theatres can will weather this storm are VIP ones. The common cinema that packs as many ppl in the room as possible was already dying, and this is one of the final nails in the coffin. Link to post Share on other sites More sharing options...
ShayCristoforo 10,607 Posted March 23, 2020 Share Posted March 23, 2020 It's an uncomfortable situation, but I think it's a smart move. In the event that these COVID measures ensue for months (which they likely will), cutting labour costs like this will be essential for staying afloat. It's sad but they're being proactive to best ensure there's at least something to return to, worst case scenario. Get the pinot ready, because it's turtle time. Link to post Share on other sites More sharing options...
Alphaz 7,969 Posted March 23, 2020 Share Posted March 23, 2020 "Normal Flu" causing this and destroy economy. That's unfortunate. Link to post Share on other sites More sharing options...
Economy 52,861 Posted March 23, 2020 Author Share Posted March 23, 2020 17 minutes ago, Maleficent said: honestly if this virus remains an issue into 2021, I fully believe the full switch will finally happen from movie theatres to online streaming. I think the only movie theatres can will weather this storm are VIP ones. The common cinema that packs as many ppl in the room as possible was already dying, and this is one of the final nails in the coffin. I'm not fully convinced. Ppl don't go to the movies just for the movies themselves, of course we can just stream It's just fun to go to movies with friends and have popcorn etc. I think even if it deminishes people will still do it Link to post Share on other sites More sharing options...
Economy 52,861 Posted March 23, 2020 Author Share Posted March 23, 2020 17 minutes ago, ShayCristoforo said: It's an uncomfortable situation, but I think it's a smart move. In the event that these COVID measures ensue for months (which they likely will), cutting labour costs like this will be essential for staying afloat. It's sad but they're being proactive to best ensure there's at least something to return to, worst case scenario. Unfortunately it's true Link to post Share on other sites More sharing options...
Bio 23,538 Posted March 23, 2020 Share Posted March 23, 2020 Capitalism collapsing right in front of our eyes Link to post Share on other sites More sharing options...
Economy 52,861 Posted March 23, 2020 Author Share Posted March 23, 2020 1 minute ago, Bio said: Capitalism collapsing right in front of our eyes Any system would suffer in the current circumstances not just capitalism Link to post Share on other sites More sharing options...
coolninjaguy 1,239 Posted March 23, 2020 Share Posted March 23, 2020 33 minutes ago, Economy said: I'm not fully convinced. Ppl don't go to the movies just for the movies themselves, of course we can just stream It's just fun to go to movies with friends and have popcorn etc. I think even if it deminishes people will still do it nah i can see that being true for some people but it's just more convenient to stream a move from home and hell you can even make it a party with all your friends. literally nobody loves paying for the overpriced popcorn/food served in theatres and having to wait months for the dvd version. Link to post Share on other sites More sharing options...
Monster647 444 Posted March 23, 2020 Share Posted March 23, 2020 This is extremely scary. I am afraid this will turn into a 2nd great depression... Now, many think they are safe simply because they get to keep their job for the time being as they can work from home but what do people think will happen when unemployment rate is sky high, consumer spending is at an all time low. Then most of those who can work from home will lose their jobs too. I cannot wait to see the **** show when people run out of rent money. My ideas and fears are all scattered all over the place but I am seriously afraid for our society's future... Link to post Share on other sites More sharing options...
Economy 52,861 Posted March 23, 2020 Author Share Posted March 23, 2020 17 minutes ago, coolninjaguy said: nah i can see that being true for some people but it's just more convenient to stream a move from home and hell you can even make it a party with all your friends. literally nobody loves paying for the overpriced popcorn/food served in theatres and having to wait months for the dvd version. I don't know guess we will see what happens. I'm not arguing against the convinience of streaming. I'm saying the experience u get of streaming is not like going with friends to a movie with that giant screen. Just doesn't feel the same I can see movie theatres getting some decline from that increased competition but I don't see them going totally obsolete A lot of people who stream STILL go to movie theatres as well I see it kind of like radio. Ppl 10 years ago said radio would die because because people got blue tooth in their cars now and can play whatever they want... Radio has seen a decline but ppl will still sometimes listen to the radio as well sometimes out of laziness to connect phone, sometimes to hear what's popular, sometimes to hear the hosts etc Radio has taken some hit (and I'm sure it will decline further) but the idea that radio especially top 40 stations for younger generation would just die clearly were overly pessimistic I kinda see the same thing happening to theatres. They no doubt WILL decline and not have the kind of thriving influence they have now but I don't see them dying off either Blockbuster died and couldn't compete with digital versions because it literally had no advantage over convinient digital access. But unlike blockbuster movie theatres have the advantage that they are a hangout so the exact service and experience isn't exactly the same Link to post Share on other sites More sharing options...
coolninjaguy 1,239 Posted March 23, 2020 Share Posted March 23, 2020 . Link to post Share on other sites More sharing options...
coolninjaguy 1,239 Posted March 23, 2020 Share Posted March 23, 2020 2 minutes ago, Economy said: I don't know guess we will see what happens. I'm not arguing against the convinience of streaming. I'm saying the experience u get of streaming is not like going with friends to a movie with that giant screen. Just doesn't feel the same I can't see movie theatres getting some decline from that increased competition but I don't see them going totally obsolete A lot of people who stream STILL go to movie theatres as well I see it kind of like radio. Ppl 10 years ago said radio would die because because people got blue tooth in their cars now and can play whatever they want... Radio has seen a decline but ppl will still sometimes listen to the radio as well sometimes out of laziness to connect phone, sometimes to hear what's popular, sometimes to hear the hosts etc Radio has taken some hit (and I'm sure it will decline further) but the idea that radio especially top 40 stations for younger generation would just die clearly were overly pessimistic I kinda see the same thing happening to theatres. They no doubt WILL decline and not have the kind of thriving influence they have now but I don't see them dying off either Blockbuster died and couldn't compete with digital versions because it literally had no advantage over convinient digital access. But unlike blockbuster movie theatres have the advantage that they are a hangout so the exact service and experience isn't exactly the same ok yea i understand what you're saying now Link to post Share on other sites More sharing options...
Economy 52,861 Posted March 23, 2020 Author Share Posted March 23, 2020 2 minutes ago, Monster647 said: This is extremely scary. I am afraid this will turn into a 2nd great depression... Now, many think they are safe simply because they get to keep their job for the time being as they can work from home but what do people think will happen when unemployment rate is sky high, consumer spending is at an all time low. Then most of those who can work from home will lose their jobs too. I cannot wait to see the **** show when people run out of rent money. My ideas and fears are all scattered all over the place but I am seriously afraid of our society's future... I'm concerned too I know it's not a popular opinion and I've taken some heat but I think whatever measures we take should consider economic impact as well and look at the big picture not just the virus (which will still spread regardless just a little slower) Ppl need to remember that poverty is a huge killer. A lot of people died in the 1930s great depression from poverty and ppl today still die from poverty related reasons whether directly or indirectly That needs to be considered too. If we got a collapse that severe we will basically have traded one calamity for another and one that will last longer than coronavirus Link to post Share on other sites More sharing options...
brownie 5 Posted March 23, 2020 Share Posted March 23, 2020 1 hour ago, Maleficent said: honestly if this virus remains an issue into 2021, I fully believe the full switch will finally happen from movie theatres to online streaming. I think the only movie theatres can will weather this storm are VIP ones. The common cinema that packs as many ppl in the room as possible was already dying, and this is one of the final nails in the coffin. As a current commercial editor and future film director, this is literally my nightmare. This is what people who work in film look like rn... Link to post Share on other sites More sharing options...
.thumb.jpg.99c40bc2a10ded8236a48b4fe15c6be8.jpg)
Featured Posts
Archived
This topic is now archived and is closed to further replies.