Thread regarding SeaWorld Entertainment Inc. layoffs

They want a loan after giving executives millions in bonuses

SeaWorld Entertainment is seeking a loan from a federal program meant to help businesses retain workers during pandemic-related shutdowns, but labor group says the theme park company is undeserving because it furloughed 95% of its employees.

SeaWorld — which operates a dozen SeaWorld, Busch Gardens and Sesame Place parks around the U.S. — said late last month that it was actively trying to get assistance from the Federal Reserve's Main Street Lending Program. The program offers four-year loans to medium-sized businesses with principal and interest payments deferred for a year.

Officials with Unite Here! Local 355 in Orlando this week said SeaWorld shouldn't receive any taxpayer-funded benefits until the company puts the furloughed workers back on its payroll and restores their health benefits. Who agrees?

by
| 889 views | | 5 replies (last )
Post ID: @OP+15JZjRZZ

5 replies (most recent on top)

https://abc3340.com/news/nation-world/after-furloughing-95-of-workers-seaworld-seeks-fed-loan

by
|
Post ID: @1ssx+15JZjRZZ

Thanks for posting a two month old article. Very helpful

by
|
Post ID: @nnh+15JZjRZZ

I would be willing to bet that they cant get rid of employees after the fact to qualify for being under the # required to get it. Otherwise any company could. We likely wont be back, but not for that reason anyways.

by
|
Post ID: @bey+15JZjRZZ

To qualify for a loan of between $1 million and $25 million, businesses must have no more than 10,000 workers or $2.5 billion in annual revenue. SeaWorld had $1.4 billion in revenue last year and employed 4,300 full-time and 11,000 part-time workers.

This means Seaworld must get rid of at least 5300 employees to qualify for the loan. We ain't returning.

by
|
Post ID: @irl+15JZjRZZ

Post a reply

: