DreamWorks Animation said it will cut 500 jobs and produce two feature films a year, instead of three, as part of a plan to restructure its core feature animation business.
The Hollywood studio said it expects to incur a pre-tax charge of about $290 million, which would primarily be incurred in the quarter that ended on Dec. 31.
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DreamWork's Vice Chairman Lewis Coleman and Chief Operating Officer Mark Zoradi would leave the company as part of the restructuring plan, the studio said in a filing.
(Reporting By Lehar Maan in Bengaluru; Editing by Savio D'Souza)