DreamWorks Animation has revealed its plans to trim its film roster to two per year amid the firm’s restructuring plans for its film business.
The studio has said that as part of its efforts to bring down costs, it will focus on one original film and one sequel per year, beginning in 2016.
The newly announced line-up features Kung Fu Panda 3, set for release on March 18th, 2016, followed by original title Trolls on November, 4th next year.
2017 will see the launch of Boss Baby on January 13th and The Croods 2 on December 22nd, while The Larrikins will arrive on February 16th, 2018 and will be followed by How to Train Your Dragon 3 on June 29th the same year.
Further decisions within the plan will see its marketing chief Dawn Taubin and COO Mark Zoradi leave the company, while vice chairman, Lew Coleman has announced his retirement.
Meanwhile, the company will also trim costs as it eliminates around 500 jobs – or 18 per cent of its entire staff – reports Hollywood Reporter.
“We want to get back to basics here and just do an outstanding job on two movies a year,” said CEO Jeffrey Katzenberg.
“Much of my time and efforts n the last cou0ple of years have been focused on expanding the company into other businesses…it’s now time for me to turn my attention back to the core business.
“While I couldn’t be more confident for the future, I am deeply saddened by the fact that we will be losing so many treasured, loyal, inspired and valued members of the DreamWorks Animation family.”