Cineworld will close all of its UK and U.S. movie theatres later this week.
The decision to suspend operations leaves around 45,000 workers unemployed for the foreseeable future.
The world's second biggest cinema chain is battling for survival after coronavirus and global lockdowns hammered the film industry.
A company statement on Monday (Oct 5) spelt out the scale of the job losses, which take in ancillary staff including cleaners and security as well as its own employees.
It will now look for ways to raise additional funds while hundreds of its theatres are closed.
Adding that its main priorities are to cut costs and hold onto the cash it has.
Cineworld began reopening in July, but the further postponement of James Bond film "No Time To Die" and other releases have left the months ahead looking bleak.
Studios have released some of this year's major planned blockbusters on Netflix or the Disney Plus streaming platform instead.
The boss of Vue cinemas, Tim Richards, told BBC Radio: "Our problem right now is we have no movies, and this was a big blow for us."
Cineworld shares have plummeted more than 80% this year.
They fell a further 60 percent within 10 minutes of the opening bell on Monday.