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Tagged With: layoffs

Say it Ain’t So! Headline News

Rooster Teeth Shutting its Doors After 21 Years

Parent company Warner Bros. Discovery will sell off the Austin-based studio’s content and intellectual property and lay off 150 full-time employees as well as dozens of contractors and content creators.

Business Headline News

9 Story Lays Off Nearly 3% of Workforce, Switches NY Staff to Remote

The media group known for ‘Let’s Go, Bananas!’ and ‘Dee & Friends in Oz’ has downsized its workforce and temporarily sublet its Manhattan office space, citing ‘current market conditions’ for the move.

Here’s to Second Chances Headline News

‘Wings of Fire’ Animated Series Moves to Amazon

Adaptation of the popular children’s books by Tui T. Sutherland has found a new home at Amazon MGM Studios after being shelved at Netflix in 2022 amid company layoffs.

More Industry Cuts Headline News

Microsoft to Layoff 1,900 Activision Blizzard, Xbox Employees

The tech giant has begun to cull workers from the newly acquired division to reduce ‘areas of overlap’ during the integration effort, with Blizzard Entertainment president Mike Ybarra also exiting the company.

Unhappy New Year Headline News

‘Several Hundred’ Employees to be Laid Off at Prime Video and Amazon MGM Studios

The sad news was announced Wednesday in a company memo from entertainment chief Mike Hopkins, who cited the need to reduce costs ‘to deliver even more breakthrough movies, TV shows, and live sports’ as the reason for the workforce cuts; 500 workers will also be cut at Amazon’s Twitch live streaming platform.

Biggest Breakup of the Year Headline News

Unity Terminates Working Agreement with Wētā FX, Lays off 265 Workers

2 years after purchasing the VFX company’s tools, pipeline, technology and engineering talent pool, the company moves to refocus on video game development, with a goal to become a major player in the professional M&E market; it will also shutter 14 offices.

The Year of the Layoffs Headline News

Starz to Lay Off Over 10% of Workforce in Upcoming Lionsgate Split

The planned restructuring, which includes cutting business ties in the U.K. and Australia, is meant to ‘align our organization with the growth areas of the business and to prepare us for our next chapter as a standalone company,’ says CEO Jeffrey Hirsch.

The Year of the Restructure Headline News

Netflix’s Animation Unit Restructuring - Job Cuts Coming, Projects Shut Down

Zimbabwe-born creator Godwin Jabangwe’s ‘Tunga’ has reportedly been sent back into development while previously unannounced ‘Escape from Beverly Hills’ will re-enter the open market; the streamer has yet to disclose the number of layoffs planned.

layoffs Headline News

‘Fortnite,’ Unreal Engine Studio Epic Games to Layoff 830

Announced by CEO Jim Sweeney on Thursday, the company plans a 16% workforce reduction as well as a divestiture of Bandcamp in a move towards a new ‘metaverse-inspired ecosystem’ strategy.

The Strike Toll Keeps Growing Headline News

DNEG Staff Asked to Take Pay Cuts or Salary Loan Paybacks in Face of Strikes

After reportedly laying off 7.5% of its London HQ workforce in July, the prolific VFX firm has given its more than 10,000 employees the option of taking a pay cut up to 25%, join a salary loan payback program, or risk termination. 

Business Headline News

Lucasfilm’s Industrial Light & Magic to Close in Singapore

Due to changes in the global entertainment industry, the studio known for ‘Star Wars: The Clone Wars,’ which began as Lucasfilm Animation Singapore in 2004, will soon shutter its doors, eliminating over 300 jobs. 

The Cuts Continue Headline News

‘Lord of the Rings’ Rights Holder Embracer Group Announces Layoffs, Restructuring

The gaming giant reveals a lofty goal of creating a more self-sufficient and ‘highly cash-flow generative’ company, which means studio closures and yet-undetermined staff reductions.

And the Hits Keep on Coming Headline News

Disney Layoffs Reach the Animation and Kids Divisions

Disney TV Animation’s SVP of Current Series Khaki Jones and VP of the Kids Unit Claire McCabe have been let go as part of a company-wide initiative to save $5.5 billion in costs.

And the Hits Keep on Coming Headline News

Disney Absorbs Marvel Entertainment, Dismisses Chairman Ike Perlmutter

As a series of 7,000 layoffs began this week at the Mouse House, cost-cutting has led to the ouster of Perlmutter, a major company shareholder, co-president Rob Steffens, and chief counsel John Turitzin.

Disney Dollars Needed Headline News

Multiple Disney Animated Sequels in the Works, Though Company Layoffs Planned

Disney CEO Bob Iger revealed new ‘Frozen’, 'Toy Story,’ and ‘Zootopia’ franchise features are coming during yesterday’s Q1 earnings call, which also announced a 7,000-employee layoff, part of a plan to significantly transform the company’s creative and financial landscape.

Business Headline News

Jorge Gutierrez’s ‘Kung-Fu Space Punch’ Not Moving Forward at Netflix

The ‘Maya and the Three’ creator told his Twitter followers that he’s optimistic the project will be made, even if he has to set up a new studio to get it done.

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