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Da Spice...
http://www.cartoonbrew.com/business...-over-500-jobs-will-be-eliminated-108161.html
BREAKING! The beleaguered DreamWorks Animation just announced in a written statement that it will eliminate approximately 500 jobs at its company, far exceeding the previously anticipated number of layoffs. It will also shut down one of its main studios, PDI DreamWorks, in Redwood City, California. The closing of that studio will begin immediately. The studio is expected to begin holding private one-on-one meetings with PDI artists and offering some of them an opportunity to relocate to the southern DreamWorks campus in Glendale, California.
The studio is cutting back its slate to two DreamWorks-produced films per year: one original film and one sequel. To save money, the studio will also begin outsourcing production for some of its films, like, Captain Underpants, scheduled for 2017. Films such as that will be produced “at a significantly lower cost.”
The new release line-up for DreamWorks-produced films is as follows: Kung Fu Panda (March 18, 2016), Trolls (November 4, 2016), Boss Baby (January 13, 2017), The Croods 2 (December 22, 2017), The Larrikins (February 16, 2018), and How to Train Your Dragon 3 (June 29, 2018). The formerly announced B.O.O.: Bureau of Otherworldly Operations has been taken off the schedule completely and shifted back into development.
Among the people who will exit the company: marketing chief Dawn Taubin, vice chairman Lewis Coleman, and COO Mark Zoradi. Zoradi, who joined only last summer, said at the time of his hiring: “I am enthusiastic about the opportunity to join the talented DreamWorks team at a time of remarkable expansion and growth for the company.”
In a written statement, DreamWorks said it expects to incur a pre-tax charge of approximately $290 million in connection with the restructuring. These costs are expected to be incurred primarily in the quarter ended December 31, 2014, with the remainder in 2015 and 2016. The plan will result in total cash payments of approximately $110 million incurred primarily in 2015. The restructuring plan is expected to be substantially complete by the end of 2015 and expected to result in annualized pre-tax cost savings of approximately $30 million in 2015, growing to roughly $60 million by 2017.
I got some friends and former co workers dat were ova dere.
Rough times, brehs.
BREAKING! The beleaguered DreamWorks Animation just announced in a written statement that it will eliminate approximately 500 jobs at its company, far exceeding the previously anticipated number of layoffs. It will also shut down one of its main studios, PDI DreamWorks, in Redwood City, California. The closing of that studio will begin immediately. The studio is expected to begin holding private one-on-one meetings with PDI artists and offering some of them an opportunity to relocate to the southern DreamWorks campus in Glendale, California.
The studio is cutting back its slate to two DreamWorks-produced films per year: one original film and one sequel. To save money, the studio will also begin outsourcing production for some of its films, like, Captain Underpants, scheduled for 2017. Films such as that will be produced “at a significantly lower cost.”
The new release line-up for DreamWorks-produced films is as follows: Kung Fu Panda (March 18, 2016), Trolls (November 4, 2016), Boss Baby (January 13, 2017), The Croods 2 (December 22, 2017), The Larrikins (February 16, 2018), and How to Train Your Dragon 3 (June 29, 2018). The formerly announced B.O.O.: Bureau of Otherworldly Operations has been taken off the schedule completely and shifted back into development.
Among the people who will exit the company: marketing chief Dawn Taubin, vice chairman Lewis Coleman, and COO Mark Zoradi. Zoradi, who joined only last summer, said at the time of his hiring: “I am enthusiastic about the opportunity to join the talented DreamWorks team at a time of remarkable expansion and growth for the company.”
In a written statement, DreamWorks said it expects to incur a pre-tax charge of approximately $290 million in connection with the restructuring. These costs are expected to be incurred primarily in the quarter ended December 31, 2014, with the remainder in 2015 and 2016. The plan will result in total cash payments of approximately $110 million incurred primarily in 2015. The restructuring plan is expected to be substantially complete by the end of 2015 and expected to result in annualized pre-tax cost savings of approximately $30 million in 2015, growing to roughly $60 million by 2017.
I got some friends and former co workers dat were ova dere.
Rough times, brehs.
Damn
