Over 150 jobs are 'at risk' at the Royal Shakespeare Company as two of its three theatres will stay closed until 2022.
The company said a consultation process is underway as a result of the ongoing impact of Covid-19.
The Swan Theatre and The Other Place in Stratford-upon-Avon will not reopen - instead the company will focus its programming in the Royal Shakespeare Theatre.
"Through redeployment into existing and newly created roles, together with voluntary redundancy", the RSC said it hopes to reduce the number of people leaving.
The consultation is expected to conclude in early December.
The company’s extensive education, digital and streaming activity will continue throughout the autumn and winter to allow people to experience the RSC in their homes and schools.
Small-scale socially distanced performances will take place in the Royal Shakespeare Theatre this winter.
The company will also stage free outdoor activity, and plans to reopen its West End hit, Matilda The Musical as soon as it is financially viable.
It says it remains 'positive' that live theatre will be back in our communities, doing what it does best – entertaining audiences and bringing joy to so many people.