Months after talks to find a buyer sputtered and a few weeks after high-level management changes, the studio run by Jeffrey Katzenberg intends to “significantly reduce” the size of its workforce, the Los Angeles Times reported, citing two people familiar with the matter.
Variety said 150 to 400 employees could be affected at the Glendale and Redwood City, California campuses of the studio behind hit franchises like “How to Train Your Dragon,” “Shrek” and “Kung Fu Panda.” DreamWorks Animation employs around 2,200 people.
He wrote an email to the company last week requesting more information, but had not yet received a reply.
Katzenberg had been in talks about a potential sale of the studio, but early discussions with SoftBank Corp in September and with Hasbro Inc (HAS) in November ended shortly after they were reported.
During what are generally considered robust years for animated features, the studio has suffered from big misses on films like “Mr Peabody & Sherman,” “Turbo” and “Rise of the Guardians.”