Is Cirque du Soleil returning? CEO Daniel Lamarre said that as the country and the world continue to reopen, things are getting better. In an interview with CNBC, the executive talked about the strong demand for upcoming performances and plans to bring most of the company’s employees back. “The number of tickets we sell every day is the usual double-digit number,” Lamar said on “Squawk on the Street” this week.
As the pandemic spread last year, Cirque is one of the more aggressive companies in terms of cost reduction strategies. In June 2020, the company filed for bankruptcy protection and announced that it would lay off thousands of employees and took similar actions in March. Fast forward a year and things are very different.
Despite the layoffs of such a large percentage of employees, the company still keeps in touch with “about 95%” of former employees and plans to bring them back when the performance resumes. “They are willing to come back and start again,” Lamar said.
Two iconic performances by Cirque du Soleil in Las Vegas, Mystere and O, are being rehearsed, opening on June 28 and July 1, respectively. The company also runs the Blue Man Group, which will open in Las Vegas on June 24. Plans for other future performances are underway in markets with high vaccination rates, which will allow Cirque du Soleil returning at full capacity.
A Brief History
Cirque du Soleil is an entertainment company based in Montreal and the world’s largest contemporary circus producer. It is located in the downtown area of Saint-Michel and was founded in Baie-Saint-Paul on June 16, 1984, by former street performers Guy Laliberté and Gilles Ste-Croix. They were originally a performance group called Les Échassiers, which toured Quebec in various forms from 1979 to 1983. Their initial financial difficulties were alleviated in 1983 through a government grant from the Canadian Parliament. As part of the celebration of the 450th anniversary of Jacques Cartier’s voyage to Canada, art will be performed.
Source: CNBC and Ticketsnews.com