DreamWorks Animation mulls cutting up to 500 jobs: Report
(REUTERS) - DreamWorks Animation may cut a maximum of 500 jobs from its 2,000 member workforce following disappointing holiday results and delays to its film lineup, the Wall Street Journal reported on Thursday, citing a person familiar with the situation.
On Tuesday, the studio said in a statement that it would push back the release of its film Mr. Peabody & Sherman to March 2014, while Me & My Shadow, originally slotted for a 2014 release, would return to development.
"The move of Mr. Peabody & Sherman means that we will now release two films in 2013, and we are adjusting our operating infrastructure costs accordingly," DreamWorks Animation Chief Executive Jeffrey Katzenberg said in the statement.
The Journal said that the job cuts were not expected to be limited to the studio's headquarters in Glendale, California.