‘Dune’ VFX Firm DNEG Laying Off Dozens In London HQ
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 redundancy consultation process that will lead to around 70 exiting its Fitzrovia, Central London base. DNEG has around 900 UK staff, meaning the layoffs will comprise approximately 7.5% of the workforce.
More from Deadline
Layoffs will be across various departments including lighting, tech and rigging and are understood to have been triggered by the global macroeconomic slump rather than the recent Hollywood strikes. Multiple VFX firms across the UK are understood to be feeling the pinch.
DNEG is a VFX behemoth with recent credits including Dune: Part Two, Oppenheimer and The Last of Us, while it has won Oscars for the likes of Inception and Tenet. 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 March 31, 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.”
The news comes in a tough week for the international business. Nordic outfit Viaplay announced around 450 layoffs earlier today and Germany’s ProSiebenSat.1 revealed a similar number on Tuesday.
DNEG declined to comment on the layoffs.
Best of Deadline
Sign up for Deadline's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
