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Imax to Cut Jobs

February 21, 2001|Reuters

Imax Corp., the Toronto-based big-screen movie company, said Tuesday it will cut about 130 jobs, or 13% of its work force, and take a first-quarter charge in 2001 as a result.

Imax also said it will consolidate its sound and projection systems manufacturing business in a facility near Toronto and will scale back operations at its Birmingham, Ala., facility. It gave no details on the size of the charge.

Imax, which has been buffeted by poor conditions in the North American movie exhibition industry, said the restructuring plan is meant to "better align the organization with its strategic objectives."

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