Right on the heels of the studio’s announcing its new virtual production outfit DNEG 360 (in partnership with Dimension Studio), word is that hundreds of layoffs are coming to international visual effects studio DNEG. Deadline reported that consultation is underway for the company’s U.K. and Canada outposts, if not additional territories, which could cut nearly 5% of DNEG’s 10,000 employees worldwide.
Facing the continued impact of the actors’ and writers’ strikes last year, DNEG has already enacted layoffs as well as offering a controversial pay offer to employees in the past year. The company has not posted its 2023 revenues, but prior to the strikes reported a 33% rise for the year-to-date at the end of March 2022 ($409 million).
This round of pink slips is expected to primarily hit R&D workers. DNEG employees are reportedly working with and receiving support from the creative industry/entertainment unions Bectu (U.K.) and IATSE Canada.
DNEG is behind the blockbuster visual effects of three of the top five grossing films released so far in 2024: Warner Bros./Legendary’s Dune: Part Two ($704.5M worldwide) and Godzilla x Kong: The New Empire ($521.9M) and Sony’s Ghostbusters: Frozen Empire ($188.2M).
