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Business

DreamWorks Animation lays off 4% of employees amid rising costs, strikes



San Francisco, Oct 9
DreamWorks Animation has laid off 4 per cent of its workforce -- or about 70 employees -- amid rising production costs and strikes this year.

A company spokesperson told Deadline that DreamWorks Animation has reduced its workforce by approximately 70 positions.

“Roles affected were across corporate functions, feature, television and technology departments as part of an overall cost-reduction,” the company spokesperson added.

DreamWorks Animation has laid off staff because of a business downturn and increased costs.

Earlier this year, DreamWorks Animation and Netflix partnered for Orion and The Dark, an animated feature written by Charlie Kaufman that is set for release in 2024.

DreamWorks Animation or DreamWorks is a subsidiary of Universal Pictures, a division of NBCUniversal, which is itself a division of Comcast.

Their catalogue includes several of the highest-grossing animated films of all time, with Shrek 2 (2004) having been the highest at the time of its release.

The studio's first film, Antz, was released on October 2, 1998, and its latest film was Ruby Gillman, Teenage Kraken on June 30.

Their upcoming slate of films includes 'Trolls Band Together' next month and 'Kung Fu Panda 4' in March 2024.

NBCUniversal acquired DreamWorks Animation for $3.8 billion in 2016.