SeaWorld To Eliminate 320 Positions As Part Of Restructuring

By Sue Chang Markets MarketWatch Pulse

SeaWorld Entertainment Inc. will eliminate 320 positions at its headquarters and across 12 theme parks as part of its restructuring effort to reduce costs by about $65 million, the company said Tuesday. The amusement park operator will book a restructuring charge of $9 million that is expected to lower its fourth-quarter earnings. However, the company did not provide specific estimates on how much its bottom line will be affected. Analysts surveyed by FactSet projected SeaWorld to post a loss of 13 cents a share on revenue of $268 million. Shares were flat in late trading after closing at $18.21.

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