SeaWorld announces hundreds of layoffs across all associated parks

Looks like it's more bad news to close out a rather rough 2016 for SeaWorld Entertainment, Inc.

The company announced on December 6 that it would be making hundreds of layoffs in order to begin reducing costs due to a company-wide restructuring that includes the termination of killer whale breeding (and subsequently, the use of the animals in SeaWorld shows.)

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Over 320 employees will be let go across SeaWorld's 12 parks, which include Busch Gardens and Sesame Place.

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In a written statement, SeaWorld spokesperson Susan Storey said:

"These changes are being made to best position our company for long-term success, and so that we can continue to do great things for animals across the globe."

SeaWorld representatives ensured that the released employees will be offered outplacement assistance and generous severance benefits.

SeaWorld CEO, Joel Manby, elaborated in a call:

"We expect to reduce costs of 65 million with net savings of 40 million by the end of 2018 ... this is more than double the amount we committed to in our investor day just one year ago."

The jobs that are being cut will include both salaried and hourly positions.

Storey continued:

"It is an unfortunate, but necessary, consequence of the restructuring that some positions will be lost."

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