EXCLUSIVE: Dune and Oppenheimer VFX firm DNEG is making dozens of layoffs in its London HQ. Deadline understands the 25-year-old outfit, which has won seven Academy Awards, has kickstarted a redund…
Run by Namit Malhotra, the company has offices in London, LA, Vancouver, Mumbai, Chennai, Montreal, Bangalore, Toronto and Sydney, with more than 10,000 staff worldwide.
DNEG’s latest full-year results for the year to 31 March 2022 saw revenues shoot upwards by 33% to $409M, with adjusted EBITDA topping the $100M mark, but the economic situation has changed quite significantly since then and DNEG is yet to post its full-year 2023 results. Philippa Childs, who runs UK broadcasting union Bectu, said her organization is “doing everything we can to support our members who are affected by redundancies or loss of work, and will continue to monitor developments closely.” She described the present situation as a “challenging and uncertain time for many film and TV workers, both at home in the UK and globally.”
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