19 Jan 2013

Cirque laying off staff due to rising costs

4:15 pm on 19 January 2013

Cirque du Soleil is laying off 400 staff due to rising costs and the strong Canadian dollar.

The Canadian entertainment company had record revenues of $1 billion (Canadian) and sales of more than 14 million tickets worldwide last year.

However, it will lay off 400 of its 5000 employees, Reuters reports.

Spokesperson Renee-Claude Menard says the company is reviewing all expenses worldwide, to ensure a significant decrease.

Based in Quebec, Cirque sends travelling shows worldwide, as well as having bases in Florida and Las Vegas.