Cirque du Soleil to fire and rehire staff to avoid invsolvency

International touring performance company Cirque du Soleil, which had to cancel its shows around the world since the Coronavirus outbreak began, is cutting 3,500 jobs in an attempt to stave off bankruptcy. Shareholders and the province of Quebec, where the firm is based, will be taking on the organisation's debt and are setting aside $20m to provide relief to affected employees and contractors. The company intends to rehire "a substantial majority" of staff as shutdowns are lifted.