DreamWorks Animation to cut 500 jobs, PDI gets strike hard

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  • The PDI/DreamWorks trickery in Redwood City reportedly is shutting as partial of a shakeup. Photo: Paul Sakuma / Associated Press / AP

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The PDI/DreamWorks trickery in Redwood City reportedly is shutting as partial of a shakeup.


Photo: Paul Sakuma / Associated Press


This picture expelled by DreamWorks Animation shows Sherman, uttered by Max Charles, left, and Mr. Peabody, uttered by Ty Burell, in a stage from “Mr Peabody Sherman.” (AP Photo/ DreamWorks Animation)


Photo: Associated Press


In an undated welfare photo, a stage from a DreamWorks charcterised film “Turbo.” Bill Damaschke, arch artistic officer during DreamWorks, has been increasingly job a artistic shots during a studio, as Jeffrey Katzenberg, DreamWorks Animation’s arch executive, moves serve divided from a day-to-day using of a company’s film pipeline. (DreamWorks Animation/20th Century Fox) — NO SALES; FOR EDITORIAL USE ONLY WITH STORY SLUGGED DREAMWORKS LEADERSHIP CREATIVE BY BROOKS BARNES. ALL OTHER USE PROHIBITED.


Photo: DREAMWORKS ANIMATION / New York Times


DreamWorks Animation announced Thursday that it would cut 500 jobs — some-more than 20 percent of a staff — in a arise of a fibre of box bureau disappointments, and reportedly a PDI/DreamWorks trickery in Redwood City is removing strike quite hard.

The Glendale association also pronounced it would take a $290 million assign in tie with a layoffs, that will cut opposite all locations and groups of a studio. Most of a workers are in Glendale and Redwood City.

The restructuring devise is approaching to be almost finish by a finish of 2015 and outcome in annualized pretax cost assets of about $30 million in 2015, flourishing to roughly $60 million by 2017.

Variety is stating that Redwood City’s PDI studio will close, with a staff offering a possibility to pierce to a Glendale headquarters. PDI had constructed a “How to Train Your Dragon” films.

As partial of a full examination of a business, DreamWorks also announced a restructuring of a core underline animation business. The company, famous for charcterised cinema such as “Shrek” and “Kung Fu Panda,” pronounced it is squeezing a concentration to one strange film and one supplement any year.

“The No. 1 priority for DreamWorks Animation’s core film business is to broach unchanging artistic and financial success,” pronounced DreamWorks Animation CEO Jeffrey Katzenberg. “I am assured that this vital devise will broach good films, improved box bureau formula and flourishing profitability opposite a interrelated businesses.”

The studio took a $57 million write-down final year for a charcterised underline “Mr. Peabody Sherman,” and a $13.5 million assign on a summer film “Turbo.” Those followed an $87 million write-down for a 2012 “Rise of a Guardians” holiday movie.

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