Despite stock price surge, SeaWorld cuts 125 jobs

Despite stock price surge, SeaWorld cuts 125 jobs
Posted at 7:20 PM, Aug 07, 2018
and last updated 2018-08-07 22:27:07-04

SAN DIEGO (KGTV) -- Despite a recent surge in attendance and stock prices, SeaWorld Entertainment Tuesday announced 125 job cuts company-wide.

Interim CEO John Reilly said in the company’s earnings report Monday that the company identified $50 million of “additional cost reductions.”

A spokesperson for the company said the restructuring affects all the company’s theme parks as well as corporate offices, located in Orlando.

RELATED: SeaWorld To Eliminate 350 Jobs, Including 80 In San Diego

Other than SeaWorld parks, the company also owns Sesame Place and Bush Gardens parks. SeaWorld said all affected employees would get severance benefits.

Last fall, the company cut 350 positions. It wasn't immediately clear how many San Diego workers will be affected by the job cuts.