Redbox Lays Off 150 Employees, About 10% of Workforce, Blaming Impact From COVID

Redbox Entertainment, which operates a national network of DVD-rental kiosks and a streaming-video business, said it laid off 150 employees, roughly 10% of its total headcount. The company, which disclosed the layoffs in an 8-K filing Friday with the SEC, said it was cutting jobs because of “the ongoing adverse effects of the COVID-19 pandemic” on its operations. As of the end of 2020, Redbox reported having 1,467 employees. In addition, Redbox on Friday notified the SEC that it is unable to file its 10-K annual report for 2021 within the prescribed time period without unreasonable effort or expense. The… Read Full Article