Just for Laughs Group Faces Financial Hardships, Cancels Festival and Lays Off Employees

The Just for Laughs Group, also known as Groupe Juste pour rire, has announced its bankruptcy due to challenging financial circumstances. As a consequence, the 2024 edition of their famous festival in Montreal will not proceed as planned. The company has laid off 75 employees, equating to a reduction of 70% of its workforce.

Just for Laughs Group cited the decline in traditional media and streaming platforms’ budgets, the pandemic-induced halt in operations, and inflation as contributing factors to its financial woes. The decision to lay off staff was announced on Tuesday.

Montreal’s Mayor, Valérie Plante, expressed sadness at the news, highlighting Just for Laughs Festival’s significant cultural impact on the city. She hopes that the group’s restructuring efforts will allow for their eventual return.

Seven performances have been canceled, including shows by Louis T, Mélanie Couture, Jean-Sébastien Girard, Eve Côté, Neev, Waitress at the Albert-Rousseau theater in Quebec, and Mesmer during the Just for Laughs Festival.

The group is actively seeking investors to hopefully sustain their operations going forward. Prior to this announcement, 21 staff members were let go in December. The REMI CEO, Martin Roy, expressed an understanding of the challenges faced by Just for Laughs, indicating ongoing financial struggles in the festival sector.