DreamWorks weighs layoffs

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Old 02 February 2013   #1
DreamWorks weighs layoffs

In Wall Street Journal, there is an article about DreamWorks considering mass layoffs

wsj link

as well as the layoff.com:
layoff.com link



From the Wall Street Journal:

By ERICA ORDEN

DreamWorks Animation SKG Inc. DWA -0.06% is weighing significant layoffs after disappointing results during the holiday season and reshuffling of the movie studio's 2013 and 2014 lineup, according to a person familiar with the matter.

The animation powerhouse is preparing to lay off as many as a few hundred of its 2,000 employees, this person said, adding that the total is expected to be fewer than 500.

The potential move would follow a rough period for the company, including slow box-office business for its most recent feature release, "Rise of the Guardians," which took in $100.6 million domestically and $297.9 million world-wide.

On Tuesday, the company said it was delaying two planned movies. The release of one, "Mr. Peabody & Sherman," was pushed to 2014 from a planned date of November 2013.

That delay means the studio expects to release only two movies in 2013 rather than three as previously planned.

In light of that reduced output, DreamWorks Animation Chief Executive Jeffrey Katzenberg said in a statement, "We are adjusting our operating infrastructure costs accordingly." He didn't specify what those adjustments would entail.

The cuts aren't expected to be limited to the company's Glendale, Calif., headquarters, according to the person familiar with the matter. The company maintains operations in several locations, including New York City.

Write to Erica Orden at erica.orden@wsj.com

Last edited by TimothyElliot : 02 February 2013 at 10:38 PM.
 
Old 02 February 2013   #2
It's not just being considered. It's already happening...
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The Lady and the Reaper, Oscar-nominated animated short, here
 
Old 02 February 2013   #3
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