The animation studio behind Shrek and How to Train Your Dragon has announced that it's making some cuts.
Dreamworks Animations will now be making two films per year instead of three, focusing on one original film and one sequel each year. As a result of the changes, DreamWorks will be cutting about 500 jobs across all locations and divisions of the studio.
(Photo Credit: DreamWorks Animation)
“The number one priority for DreamWorks Animation’s core film business is to deliver consistent creative and financial success,” said DreamWorks Animation Chief Executive Officer Jeffrey Katzenberg. “I am confident that this strategic plan will deliver great films, better box office results, and growing profitability across our complementary businesses.”
DreamWorks films scheduled for the next three years are Kung Fu Panda 3 (March 18, 2016), Trolls (November 4, 2016), Boss Baby (January 13, 2017), The Croods 2 (December 22, 2017), Larrikins (February 16, 2018), and How to Train Your Dragon 3 (June 29, 2018). Their 2015 film, Home, will premier on March 27, and they are also producing Captain Underpants outside of the studio's pipeline for significantly less. This film is supposed to release in 2017.
DreamWorks believes that this new plan will save about $30 million in 2015, increasing to about $60 million by 2017.
*Cover Photo Credit: DreamWorks Animation*
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