DreamWorks Animation mulls cutting up to 500 jobs - WSJ

Thu Feb 7, 2013 9:00pm EST

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Feb 7 (Reuters) - DreamWorks Animation SKG Inc might cut a maximum of 500 jobs from its 2,000 member workforce following disappointing holiday results and delays to its film lineup, the Wall Street Journal reported on Thursday, citing a person familiar with the situation.

On Tuesday, the studio said in a statement that it would push back the release of its film "Mr. Peabody & Sherman" to March 2014, while "Me & My Shadow," originally slotted for a 2014 release, would return to development.

"The move of 'Mr. Peabody & Sherman' means that we will now release two films in 2013, and we are adjusting our operating infrastructure costs accordingly," DreamWorks Animation Chief Executive Jeffrey Katzenberg said in the statement.

The Journal said that the job cuts were not expected to be limited to the studio's headquarters in Glendale, California.

DreamWorks Animation could not be reached for comment by Reuters outside regular business hours.

Walt Disney Co, which purchased Pixar Animation Studios in 2006, told Reuters on Wednesday that it had started cost-cutting initiatives that might include layoffs at its studio and other units.

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