Technicolor India shuts, over 3,000 staffers hit – The Times of India

BENGALURU: Technicolor India, the production hub of Paris-headquartered Technicolor Group, shut down its operations in the country, impacting over 3,370 employees. Technicolor India offers services in animation and visual effects for movies, television, game development and other media services. The other business units of Technicolor India included Technicolor Digital Delivery Group, which specialises in the compression and authoring of movies and television shows on disc-based packaged media, such as DVD and Blu-ray.
Technicolor has to its credit movies like The Lion King and Mufasa. Some of the upcoming projects include Disney’s live-action remake of Lilo and Stitch, Paramount’s Mission: Impossible – The Final Reckoning, and Paramount and Nickelodeon’s upcoming title Teenage Mutant Ninja Turtles sequel.
“India was not privy to the situation that we would receive a mail out of the blue that Paris has gone into receivership or liquidation. Technicolor India works for our global sites. We were working with the corporate to release money with several reminders. In the current circumstances, they do not have funds to give Technicolor India. We haven’t received money from global. So, employees will not be given salaries for Feb. Unless headquarters gives us these funds, we will not be able to release salaries. We are still following up with Paris,” Biren Ghose, MD, Asia-Pacific for Technicolor, told employees at a town hall.