Vista Group Layoffs
July 2023
Vista Group announced a layoff affecting 0 employees (6% of its workforce) in July 2023. The company operates in the Data sector.
0
6%
Jul 5, 2023
About
Vista Group, an Auckland-based cinema software company, is reducing its global workforce by 6 to 8 percent as part of a restructuring effort. This translates to approximately 64 job cuts from its total of 800 employees. The move, announced in April 2023, aims to transition the company from operating multiple entities into a single, streamlined business focused on its studio and cinema clients. This restructuring, expected to conclude by year's end, is a response to a challenging financial period, including a doubled net loss in 2022, and is designed to accelerate the path to positive free cash flow. The company also plans to spread its capital expenditure over a longer period to reduce near-term costs.
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