The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Arts / Entertainment Sport, Amusement And Recreation Sports Activities And Amusement And Recreation Activities 93.21 - Activities of amusement parks and theme parks
100 - 110 jobs Number of planned job losses
Announcement Date
11 May 2020
Employment effect (start)
Foreseen end date
Description
Parks and Resorts, the Swedish company amusement park and zoo operator, announced its plan to dismiss 110 employees due to the effects of the COVID-19 pandemic. In addition to the dismissals, the company has also cut down, so far, the number of seasonal employees from 3,350 to 200.
The company estimates that the effects of the COVID-19 pandemic will have a significant impact. Last year their sales were around 1,4 billion SEK. An optimistic estimate for this year is that sales will worth half of the ones of 2019. The worst-case scenario is one billion SEK in revenue loss.
An opportunity to cushion the economic effects of the pandemic could come up when the Swedish authorities will relax the measures regarding the number of customers the company is allowed to have in its parks – the current maximum is 50 people - and when they will allow the company to open to the public further attractions.
Parks and Resorts is a privately held theme park company founded in 2000, that owns three amusement parks (Gröna Lund, Skara Sommarland and Furuvik) and one zoo (Kolmården).
Eurofound (2020), Parks and Resorts, Internal restructuring in Sweden, factsheet number 100734, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100734.
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