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DreamWorks Animation restructures film biz; cuts 500 jobs
MUMBAI: In a major restructuring exercise, DreamWorks Animation will be cutting down on the number of movies it will produce each year, which in turn will lead to a loss of approximately 500 jobs across all locations and all divisions of the studio.
Following a full review of the business, the company will focus its feature production from three films per year down to two, maximize its creative talent and resources, reduce costs, and drive profitability. DreamWorks Animation is implementing this plan to restructure its core feature animation business to ensure the consistent and profitable delivery of films.
Under the leadership of newly appointed co-presidents of feature animation Bonnie Arnold and Mireille Soria, the studio’s core feature animation production will now focus on six specific movies for the next three years – one original film and one sequel each year – including Kung Fu Panda 3 (18 March, 2016), Trolls (4 November, 2016), Boss Baby (13 January, 2017), The Croods 2 (22 December, 2017), Larrikins (16 February, 2018) and How to Train Your Dragon 3 (29 June, 2018). Captain Underpants, which will be produced outside of the studio’s pipeline at a significantly lower cost, is scheduled for release in 2017. The company’s 2015 release, Home, will premiere domestically on 27 March.
“The number one priority for DreamWorks Animation’s core film business is to deliver consistent creative and financial success. I am confident that this strategic plan will deliver great films, better box office results, and growing profitability across our complementary businesses,” said DreamWorks Animation CEO Jeffrey Katzenberg.
DreamWorks expects to incur a pre-tax charge of approximately $290 million in connection with the restructuring and related items. These costs are expected to be incurred primarily in the quarter ended 31 December, 2014, with the remainder in 2015 and 2016. The plan will result in total cash payments of approximately $110 million incurred primarily in 2015. The restructuring plan is expected to be substantially complete by the end of 2015 and expected to result in annualized pre-tax cost savings of approximately $30 million in 2015, growing to roughly $60 million by 2017.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
