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Advertising, animation and visual effects company Technicolor Group may soon cease operations, according to a memo the company sent to its U.S. staff Friday. Employees received a WARN notice, a mandatory notice for large companies which anticipate mass layoffs.
According to the notice, the company anticipated that it may cease its operations by Monday, Feb. 24.
Representatives for Technicolor did not immediately respond to a request for comment. Calls to the Los Angeles offices of Technicolor subsidiaries The Motion Picture Company (MPC) and The Mill were not picked up.
The company’s website listed available jobs Monday in countries including Australia, France, the United Kingdom and Canada, though not the United States.
The group’s French parent entity entered receivership Monday. In the U.K., the company said that most of its 440 employees had been let go, as the company filed for voluntary administration. Over 2,000 staff in India, where Technicolor has its biggest footprint, were told not to report to work.
L.A. is home to offices for three of Technicolor Group’s subsidiaries: visual effects studio MPC, advertising firm the Mill, and animation company Mikros. Over 1,000 employees reside in or near the city, according to LinkedIn self-reporting.
In 2020, Technicolor leased a 65,000 square-foot campus in Culver City, intended to be a regional hub supporting its visual effects services. However, the tenant never moved in. When the building was completed, video game maker Scopely was the sole occupant of its office space.
Technicolor Group traces its roots to the company which first marketed the Technicolor picture processing technology, one of the first means of creating colour photographs. The group was created in 2021 as a spin-off from the descendant of that original entity.
M.P.C. has in recent years received significant acclaim for its roles in the production of several blockbuster films. “Top Gun: Maverick” and “Mufasa: The Lion King” featured effects from the studio.
The Financial Times reported in October 2024 that Technicolor leadership was attempting to sell the company. The difficulty of sustaining consistent profits in the streaming era was cited as a contributing factor.
