According to the Orlando Sentinel, Planet Hollywood has filed with the state that it will be laying off 468 employees as the restaurant closes for renovation. The layoffs are to happen by January 19, which gives an indication on when the restaurant will be closing.

Previously it was announced that Planet Hollywood would be reopening in the Spring of 2016 with a new decor and menu as it reimagines itself as the star themed Planet Hollywood Observatory to better fit the new themeing of Disney Springs.

According to the press release, "The Observatory's exterior will share the Disney Springs turn-of-the-century design aesthetic, while the interior's refurbished upholstery, spherical planet-shaped lighting fixtures and stylish finishing will create a welcoming atmosphere for fans to celebrate a new generation of superstar entertainers. New dining and lounge options will include a new outdoor terrace and outdoor bar space called Stargazers, which will feature live entertainment while music in the main dining room will be energized by DJ performances.  Walls and glass displays throughout the massive space will be adorned with imagery and memorabilia from various movies paying homage to a long tradition of filmmaking and recognizing beloved newcomers."

Employees laid off are said to be given priority in hiring when the restaurant reopens.