Technicolor plans to reduce staff
Submitted by Peter Cioni on Thu, 2012-01-05 00:00
From the Glendale News-Press:
Technicolor Inc. plans to lay off 50 employees at its relatively new Flower Street facility by Jan. 14, according to a recent state filing. Plans for the layoffs, filed with the California Employment Development Department, affect the 40,000-square-foot lab in the San Fernando Road corridor where the company moved roughly 100 film-processing jobs last summer.
Last month, Technicolor released an update of its 2011 financial performance and objectives for 2012, in which the company said it was “considering a number of cost-reduction action plans.”