DreamWorks Animation SKG announced a reshuffling of its film slate, delaying Mr. Peabody & Sherman from its original 2013 release date to March 2014, reducing the studio’s feature film slate to only two films for 2013. The film Me & My Shadow was also pulled from the schedule and returned to development from its original release berth in 2014. DreamWorks CEO Jeffrey Katzenberg released a statement saying that the delay for Mr. Peabody & Sherman will result in “adjusting our operating infrastructure costs accordingly,” with a source telling Reuters that this might lead to the loss of up to 500 jobs from the staff of 2,000. Walt Disney Co also 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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