Orlando, Fla.-based SeaWorld Entertainment Inc. said Aug. 7 that it will cut about 125 jobs across its theme parks and corporate offices.
SeaWorld said its new restructuring program program is aimed at reducing costs, improving operating margins and streamlining management structure to better align with the company's business objectives.
As a result, the company recorded about $1.8 million in pretax restructuring charges during the three months and six months ended June 30, primarily related to severance and other termination benefits. SeaWorld said it expects to incur an additional $4 million in charges in relation to the program.
The layoffs follow the aquatic park operator's previous restructuring programs that also led to hundreds of jobs being cut across its theme parks and headquarters. SeaWorld eliminated 320 positions in December 2016 and another 350 in October 2017.
SeaWorld recently reached a tentative agreement with the SEC over the disclosures and public statements the company made in 2014 following the broadcast of "Blackfish," a documentary about the health of the whales in SeaWorld aquatic parks.