The parent company sent U.S.employees a WARN notice on Friday, signaling a potential closing or mass layoff due to ‘severe financial challenges.’
Dark whispers are sweeping through the animation and VFX industry.Renowned VFX studio MPC may be shutting its doors soon, according to and other industry sources.
Parent company Technicolor Creative Studios sent U.S.employees a WARN notice on Friday, signaling a potential closing or mass layoff.According to sources, ‘meetings are currently underway’ with employees, that they will be paid severance, but that might be to keep the situation calm.
It has also been reported elsewhere that Technicolor Creative Studios UK Limited will for administration today and the company’s French divisions move towards receivership.The company has not replied to AWN’s contact attempts.According to the notice, “Technicolor has been facing severe financial challenges.
Despite exhaustive efforts — including restructuring initiatives, discussions with potential investors, and exploring acquisition opportunities — we have been unable to secure a viable path forward.Unfortunately, this leaves us with no alternative but to acknowledge that the Company may be forced to foreclose.” “If no viable solution is found, we may be required to cease our U.S.operations as early as Monday, February 24, 2025,” continued the text.
Technicolor, which also owns the commercial VFX company The Mill, Mikros Animation, and Technicolor Games, held multiple conversations over the weekend in attempts to secure an acquisition of all or a portion of its companies.The closure could spell disaster for thousands of VFX artists and multiple upcoming projects at MPC, including Disney’s and live-action reimaginings and .Also on the line are all projects currently in development under the Technicolor umbrella, such as Mikros’ .
Technicolor has restructured several times and filed for chapter 15 bankruptcy protection in 2020.Technicolor Post was sold to Streamland Media for $36.5 million in 2021.In 2022, MPC and the other current brands relaunched as Technicolor Creative Services.
Journalist, antique shop owner, aspiring gemologist—L'Wren brings a diverse perspective to animation, where every frame reflects her varied passions.
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