According to Deadline, it is rumored that DreamWorks Animation will lay off employees in the animation, technology and support divisions. The number of expected layoffs was not specified.
“[We] are adjusting our operating infrastructure costs accordingly,” DreamWorks CEO Jeffrey Katzenberg said in a statement.
The report said trouble started when last November’s Rise of the Guardians didn’t meet expected numbers, which caused a drop in shares. As reported on Tuesday, DreamWorks Animation shuffled upcoming releases, planning only two films for this year and taking a movie planned for 2014 off the calendar altogether.