Layoffs Rumored at DreamWorks Animation

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Layoffs Rumored at DreamWorks Animation

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.