DreamWorks Animation short film per year and 500 jobs

A series of disappointments and falling stock prices led to restructuring by the animation studio DreamWorks , according to an SEC filing. The company will eliminate 500 jobs in 2200 worked in the company , total annual report-2013.

According to Deadline Hollywood, society , as almost 40 percent lost in value in the past year. The reason was the poor performance at the box office films such as Turbo, Rise Of The Guardians, Mr. Peabody and Sherman, and Penguins of Madagascar.

"The top priority for the business area of DreamWorks Animation film is consistently deliver creative and commercial success," said CEO of DreamWorks Animation Jeffrey Katzenberg in a media company . "I am convinced that this strategic planning offer great movie, better results at the box office, and profitability through our complementary businesses."

Not only cut loose many employees, but DreamWorks intensified its return program on three films a year to two: one original and a sequel to a previous track. The Hollywood Reporter said the company will launch a movie , beginning in 2015. The next year, Kung Fu Panda 3 and a new film, see troll. Adapted from the book of the famous son Dav Pilkey Captain Underpants, see outsourced production abroad "at a much lower cost," as originally planned.

DreamWorks had a series of 17 consecutive shots from 1997 to 2012 , according to the New York Post. But the decision two functions of two fifty-nine appears both financial and creative pressure on the company to spend, request a pace that requires the magic of consumers, could no longer hold back.

"I'm planning more of my time and efforts are focused to support our film production business, "Katzenberg said in a conference call, according to Bloomberg. "Despite some of the best creative teams in the world, we believe that our efforts to make three films each year was too ambitious and too inconsistent performance."

The restructuring is expected to cost $ 290 million, of which three quarters to be recognized in 2014 fiscal year of the Company in the year, 20 per cent in 2015, and the remaining five per cent in 2016. This includes $ 60 million in compensation, benefits, relocation and other payments to employees, 200 million in deficiencies of the original projects and $ 30 million to close the company's study in Northern California.

As part of the plan, Vice President of Operations and Chief Lewis Coleman Mark Zoradi leave the company.