Six Flags Entertainment Corporation, created through an $8 billion merger between Six Flags and Cedar Fair, is undergoing major layoffs affecting 10% of its workforce across all 27 amusement and water parks, including Kings Island and Cedar Point. Leadership roles across the chain were eliminated, including the general managers and park presidents. Kings Island’s VP and General Manager Mike Koontz retired June 1, and Communications Director Chad Showalter was laid off. While the exact number of job losses has not been disclosed, Six Flags filed a WARN Act notice in California to cut 140 jobs at three parks by July 21. The layoffs follow a $220 million first-quarter loss, which CEO Richard Zimmerman blamed on unfavorable weather, calendar timing shifts, and economic uncertainty. The company is targeting $120 million in cost synergies by the end of 2025, with CFO Brian Witherow outlining a $60 million cost reduction in 2025 and another $60 million in 2026. These include labor and non-labor cuts intended to offset inflation and rising variable costs. Industry veteran and former Cedar Fair CEO Matt Ouimet acknowledged the cuts as a predictable outcome of the merger, saying the layoffs are driven by investor-promised synergies rather than poor individual or business performance.
Links:
Yahoo Finance article on Six Flags layoffs
https://finance.yahoo.com/news/owner-kings-island-announced-major-140100373.html
Six Flags Investor Day presentation recap
https://finance.yahoo.com/news/six-flags-investor-day-merger-synergies
California WARN Act filing database
https://edd.ca.gov/en/jobs_and_training/Layoff_Services_WARN/