The nationwide lockdown has severely impacted all segments of the economy, and more so the cinema exhibition industry, as theatres are shut across the country. Cinema being an out-of-home entertainment option, the film industry has been significantly impacted and will take a long time to recover.
The leadership team of UFO wants to ensure that every employee down to the frontline/lowest level is protected and does not lose his/her livelihood.
Considering this and as part of its long-term business continuity plan and for the physical and mental wellbeing of employees, UFO Moviez, the cine media network, decided to forego 100% salaries at the MD, JMD level. Apart from this, the entire leadership team at UFO has taken salary cuts of up to 50-60% salary so that each and every member of its team is taken care of and will continue to do whatever it takes to ensure the wellbeing of its team and the society.Â Â Â Â
UFO believes that the Show Must Go On, Come What May.
Simultaneously, the company is developing long-term survival strategies to insulate the company from such unforeseen events in future. UFO employees have been encouraged to give their ideas and suggestions on cost optimisation, identifying newer revenue streams by utilising its current strengths and infrastructure.