DreamWorks Employees Face Major Layoffs
Reports out of Hollywood say that DreamWorks Animation, which has been troubled by under-performing releases in recent years, is expected to lay off a good chunk of its staff at the studio’s Glendale and Redwood City campuses. The cull is part of cost-cutting measures, and is anticipated to match 2003′s mass lay offs which saw over 350 people dismissed.
According to The L.A. Times, among the 2,200 employees facing the layoffs are animators, storyboard artists, additional production personnel and support staff.
Even though How to Train Your Dragon 2 was a huge success for the studio, making over $600 million worldwide, DWA’s Mr. Peabody and Sherman and holiday release Penguins of Madagascar failed to meet expectation at the box office last year. Mr. Peabody caused the company to take a $57 million write down last April.
