FRIDAY UPDATE: Deadline told you last night that more layoffs and resignations were coming. Today DreamWorks is confirming that it’s laid off 10 people from physical production, studio services, legal, and IT.
THURSDAY PM: DreamWorks’ head of physical production Steve Molen resigned today. His exit is said to be related to the rebooted company’s continuing money woes just recently mitigated by a new but smaller deal with India-based Reliance. Problem is, there isn’t much for someone with Molen’s skill set to do at DreamWorks 2.0 right now. The company is releasing only two movies this year: the small People Like Us and the Steven Spielberg-directed Lincoln. Both pics are expected to be modest box office at best — even though weekend grosses have heated up for 2012. But, following several films like big bet Cowboys & Aliens and modestly budgeted Fright Night which underperformed in 2011, a draconian plan to downsize production to just a handful of movies per year called for drastically reduced development and production. Hard to believe this is happening to Spielberg, who’s now relying on co-financing deals with studios other than Disney to back his big plays. Hollywood is expecting more DreamWorks resignations and layoffs.
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