KIDSCREEN Magazine reports that Cookie Jar Ent. will lay off some of the DIC workforce by August 26, part of the merger that was completed recently.
The most vulnerable jobs are ones in corporate administration at DIC's Burbank, California headquarters, as Cookie Jar will remove duplicate jobs. Cookie Jar CEO Michael Hirsh told KIDSCREEN Tuesday the company would be transitioned into a production arm and licensing and merchandising arm. Cookie Jar's current program development staff would head up all series development and production, while DIC staffers would focus on consumer products and not developing series.
Now an independent animation giant, Cookie Jar bought DIC for $87.6 million.
"We bought DIC to build on the considerable strengths of the company, which includes a highly talented team. But at the same time, the former DIC employees knew the company was not viable in its current state," he said.
DIC founder Andy Heyward will remain with the new company, part of a new employment contract and will report to the Cookie Jar Ent. board of directors. DIC President and COO Jeffrey Edell departed the company at the time of the merger, Hirsh said.
The deal for DIC includes a one-third stake in KidsCo, an international kids channel jointly owned by NBC Universal and Corus Ent.
