In an ominous sign for visual effects artists, Technicolor, […] could begin shutting its doors as early as Monday, according to multiple sources.

On Friday, Technicolor began alerting customers and employees, sending U.S. employees a WARN notice as required by law for large companies that anticipate closings and mass layoffs. A total shutdown of MPC and Technicolor’s operations would affect thousands of visual effects workers.

[…] 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.” Another portion reads, “If no viable solution is found, we may be required to cease our U.S. operations as early as Monday, February 24, 2025.”

Technicolor — the iconic century-old film tech brand – has experienced several restructurings and management changes in recent years and following its filing for chapter 15 bankruptcy protection in 2020.