At the end of every movie and series you must have seen the Technicolor logo. This iconic company that has been around since 1916 has several studios that produce special effects (VFX) for the Harry Potter films, Mission Impossible, Dune, The Lion King as well as the TV series The Boys and Severence is now facing the need to lay off hundreds of employees to enable the company to continue operating.
Technicolor Group has filed documents to undergo a debt settlement process after experiencing serious financial problems. Among the VFX studios under the Technicolor umbrella that are affected are Moving Picture Company, The Mill, Mikros Animation and Technicolor Games. In the United Kingdom, the company has confirmed that hundreds of employees will lose their jobs. Meanwhile, the company's operations in France. India, Canada and the United States will also be affected with possible layoff notices starting to be received. In total, Technicolor Group has 10,000 employees worldwide.
In a note distributed to employees, a Technicolor Group spokesperson said the challenges experienced post-Covid-19 and the SAG-AFTRA strike in 2023 have affected the company's financial position. The company's operations will continue as it has contracts to produce special effects for the live-action films Lilo & Stitch, Snow White and Mission Impossible – The Final Reckoning.