Obama Mega-Bundler and Donor Announces Layoffs, Possibly Linked To China Outsourcing

From the Hollywood Reporter.

DreamWorks Animation CEO Jeffrey Katzenberg said Tuesday that layoffs already have begun and that 350 of the studio’s 2,200 employees will have been let go by year’s end.

“These things are very, very difficult to do,” Katzenberg told The Hollywood Reporter. “I would say it’s the hardest thing I’ve had to do since we started DreamWorks. We’ve never had to lay anybody off. It was against our culture. But it’s the right thing for us today, and it makes DWA strong going forward.”

And then, of course, there's this:

Last August, DreamWorks Animation announced plans to develop a $3.1 billion cultural and entertainment district in Shanghai, in conjunction with a group of Chinese partners – complete with theaters, performance halls, restaurants, shops and an entertainment center decked out with a “Kung Fu Panda” theme. The projects has been billed rivaling New York’s Broadway and London’s West End.
...
That source also said the potential forthcoming U.S. job losses could be linked to DreamWorks Animation’s growing developments in China.

Recognize the name Jeffery Katzenberg? He was Obama's largest bundler and he also personally donated $1 million (along with Steven Spielberg) to Obama's super PAC Priorities USA.

This would probably be a bigger story, but Mitt Romney Jeep Italians China something something.

posted by JohnE. at 10:24 AM

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