Tuesday, August 7, 2018

SeaWorld just eliminated 125 jobs one day after stocks rose 17 percent

Posted By on Tue, Aug 7, 2018 at 2:15 PM

click to enlarge PHOTO VIA SEAWORLD
  • Photo via SeaWorld
One day after reporting significant increases in both revenue and attendance, SeaWorld has decided to eliminate 125 total positions across all of their theme parks and corporate offices, which are based here in Orlando.

In a statement released Tuesday morning, SeaWorld said that the layoffs, which went into effect immediately, are part of a company-wide "cost-cutting" plan that would better position the company for "continued growth and financial success."

On Monday, the company reported one of its strongest quarters since the release of the 2013 documentary Blackfish.

SeaWorld reported a 4.8 percent increase in attendance and nearly a 4.9 percent increase in revenue, which resulted in stocks rising over 17 percent Monday evening.

It's unclear at the moment exactly what positions were eliminated, but interim CEO John Reilly did say on Monday's call that the company was looking to cut $50 million in costs.

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