[sureLoss]

https://www.nhl.com/flames/news/csec...ng/c-316445116

Calgary Sports and Entertainment Corporation (CSEC) has made the decision to proceed with a 60-day temporary layoff for certain personnel and salary rollbacks as a result of the COVID-19 pandemic that has resulted in the pausing of the NHL season along with the cancelation or postponement of other sports leagues, concerts and events.

CSEC indicates that approximately 150 employees representing approximately 50% of its full-time workforce have been given two weeks notice of the 60-day temporary layoff which will be effective April 13, 2020. CSEC has applied for and received consent from Service Canada for a Supplemental Unemployment Benefit plan that will enable CSEC to provide an Employment Insurance top-up payment to all of the employees affected by the temporary layoff. This group of employees will experience the lowest net compensation decrease of any of the employee groups within CSEC. CSEC will continue to provide and pay for health and dental benefits during the period of this temporary layoff.

The remaining staff of approximately 150 employees will see salary reductions ranging from 10% to 25%, enabling them to maintain their employment through this challenging period. The rate of salary reductions increases with salary levels with the executive management receiving the highest percentage rollbacks.