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DreamWorks Animation Cutting 500 Jobs; Marketing Chief and COO Departing

by on January 23, 2015

Variety reports that earlier rumors of layoffs at DreamWorks Animation SKG, Inc, are now confirmed, with the studio cutting 500 jobs company-wide, with marketing chief Dawn Taubin and chief operating officer Mark Zoradi among those leaving. Vice chairman Lew Coleman is retiring, while former chief creative officer Bill Damaschke departed earlier this year to be replaced by the pair of veteran producers Bonnie Arnold and Mireille Soria. Other measures documented in Variety’s report include a reduction in film output to 2 films per year (from the current target of 3); more hands-on activity in the moviemaking process for studio head Jeffrey Katzenberg; a pre-charge tax against earnings of $290 million; and a reduction in budget for its films to $120 million starting with Trolls, due out in 2016.

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