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What does this even mean?!

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This was sent today to the US Mill employees:
“As we have communicated over the past months, Technicolor has been facing severe financial challenges. Despite exhaustive efforts - including restructuring initiatives, discussions with potential investors, and exploring acquisition opportunities - we have been unable to secure a viable path forward. Unfortunately, this leaves us with no alternative but to acknowledge that the Company may be forced to foreclose. In line with applicable state law and federal legislation, please find attached a WARN Notice. If no viable solution is identified by the end of today, Friday, February 21, 2025, we will be required to cease our U.S. operations as early as Monday, February 24, 2025.”
That’s pretty unfortunate and kind of sad, actually. I hope they can figure something out to help people keep their jobs.
End of an era.
I spent months and months of my life agonizing over pixels at their Culver City studio. Good times and even better coffee. Sad to see them go. A sign of the times, I suppose.
I hadn’t heard that. But, we were about to reach out to them for a job and other people who’ve worked with them recently gave that a hard no.
Over all, if it’s true, I’d suspect it’s about the project output and workflow. They’ve been slipping in recent years and a lot of the original talent that made that place great have gone on to start their own things.
In fact, a lot of companies we talk to now, our producers start of by saying “they’re former Mill” or something like that.
So, don’t know if it’s true. But, if it is, it probably has less to do with influencers and more to do with the consistency of the product.
I have only had negative experiences working with them, honestly. Enormously high prices to work with someone who puts in minimal effort with a bad attitude.
I gave them a few second chances. Now I’m on the same page as your cohort—hard no.
That would be sad. There are still some very talented folks there and I’ve had fantastic experiences with them, as recently as the fall.
I heard the same. As a former mill-er I’m not shocked but still speechless.
AI
You’re right AI progressing slowly. Let’s say not for at least another 20 years ?
Shame. In their heyday they did quality work.
Timber!
Any thoughts on how this will impact global offices?
It’s true: https://www.reddit.com/r/vfx/comments/1iv7wo8/technicolor_likely_closing_all_us_operations_as/
😭