September 24, 2020 Breaking News, Latest News, and Videos

DreamWorks Animation Embarking On Fresh Round Of Layoffs:

DreamWorks Animation SKG, which once rivaled Walt Disney Studios in producing successful animated features, is embarking on a fresh round of layoffs following a string of disappointing releases, it was reported today.

DreamWorks is looking to shave as many as 400 jobs, or about 20 percent of its California workforce, under plans still being finalized, people familiar with the matter told the Los Angeles Times.

The layoffs would be the second major downsizing in two years at the studio, which cut 350 jobs in 2013, and currently employs about 2,200 workers in California, The Times reported in an article posted on its website this morning.

The reductions mark a retreat from ambitious growth plans under the leadership of co-founder Jeffrey Katzenberg, who transformed DreamWorks from a fledgling studio into a $700-million-a-year multimedia powerhouse. But unlike rival studios, DreamWorks is mostly dependent on feature animation, making a lack of hits especially troublesome, analysts told The Times.

The animation studio has churned out such big hits as “Shrek,” “Kung Fu Panda,” and “Madagascar.” But it took a $57 million write-down last year for its animated feature “Mr. Peabody & Sherman” and a $13.5-million charge on its summer movie “Turbo,” according to The Times. Those followed an $87million write-down for the 2012 “Rise of the Guardians” holiday movie.

in News
Related Posts

Santa Monica Loses Vegan Restaurant

September 23, 2020

September 23, 2020

Space housing Santa Monica vegan restaurant Viva Vegan up for lease By Sam Catanzaro A vegan restaurant in Santa Monica...

Risks Posed by Wildfire Smoke

September 22, 2020

September 22, 2020

UCLA pulmonologist on how people can tell if the wildfires are making them sick By Toi Creel Even if you...

Will Los Angeles County See Another Spike in COVID-19 Cases?

September 22, 2020

September 22, 2020

County health officials keeping close eye on data this week By Sam Catanzaro Los Angeles County health officials are monitoring...

Edify TV: Santa Monica Fire Department Fighting Blazes Across State

September 21, 2020

September 21, 2020

The Santa Monica Fire Department has been busy helping combat wildfires burning throughout the state. Learn more in this video...

Lawmakers and Residents Take Steps Towards Police Reform

September 21, 2020

September 21, 2020

Santa Monica residents will soon have more control of policing after local lawmakers took significant steps to reform the Santa...

2020 Census Due September 30th: Santa Monica Beat – September, 21, 2020

September 21, 2020

September 21, 2020

Local news and culture in under 5 minutes. * 2020 Census Due September 30th * Bobcat Fire Reaches Historical Size...

UCLA Medical Center, Santa Monica Offers Free “Living With Diabetes” Zoom Patient Conference

September 21, 2020

September 21, 2020

By Staff Writer Although the novel coronavirus has dominated the health space this year, other diseases — like diabetes —...

SMa.r.t. Column: Spending and Pension Policies Are Undermining Our City’s Future

September 21, 2020

September 21, 2020

Our guest columnist this week is Marc L. Verville. He is a native of Santa Monica, now lives in Sunset...

4.6 Quake Felt in Santa Monica

September 19, 2020

September 19, 2020

4.6 magnitude quake recorded Friday night By Sam Catanzaro A 4.6 magnitude earthquake struck the San Gabriel Valley Friday sending...

Edify TV: Miramar Santa Monica Redevelopment

September 18, 2020

September 18, 2020

The Santa Monica skyline may look different in the future with a major redevelopment of the Fairmont Miramar Hotel &...

‘Fresh Prince Of Bel Air’ Mansion For Rent On AirBnb

September 18, 2020

September 18, 2020

Today on Westside Cribz, 30th anniversary of “The Fresh Prince of Bel Air” Airbnb is renting out the mansion for...

SMMUSD Kindergarten Enrollment Down 20% : Santa Monica Beat – September, 17, 2020

September 17, 2020

September 17, 2020

Local news and culture in under 5 minutes. * SMMUSD Kindergarten Enrollment Down 20% * As Covid-19 Cases Drop Will...

Edify TV: Sit-down Dining Safety?

September 17, 2020

September 17, 2020

Despite a recent CDC report stating the risks of in-person dining, many Westside restaurant patrons feel the experience is safe....

Sur La Table Closing Santa Monica Location

September 16, 2020

September 16, 2020

1930s building listed for lease By Sam Catanzaro Sur La Table, the popular kitchenware retail chain, is closing its downtown...

Death by Suicide at Santa Monica Place

September 16, 2020

September 16, 2020

Man dies by suicide Wednesday morning By Sam Catanzaro A man died by suicide at Santa Monica Place mall Wednesday....