Mumbai, February 28: Technicolor India has shut down its operations and laid off 3,000 employees. The company, engaged in the film business developing VFX, reportedly was impacted by the financial struggles of its parent company, Technicolor Group, located in Paris. The Technicolor India shutdown was announced by Biren Ghosh, MD of the Asia-Pacific region, who confirmed that the business was impacted. 

Biren Ghosh said that the Paris-based Technicolor Group unexpectedly decided to liquidate its business in Mumbai and India. The visual effects studio will also shut down its global operations due to the troubles. In India, the Technicolor shutdown will impact thousands of people. According to a report by News18, Biren Ghosh said that Technicolor India tried to secure salaries, but the global headquarters could not provide the funds. Skype Shutting Down: Microsoft Will Reportedly Shut Down Its Chat and Video Conference Platform in May 2025.

Technicolor India Shutdown Announced By Head Biren Ghosh 

The Indian arm is reportedly in conversation with the global group to find a solution; however, amid this, the February salary will not be paid as the disbursement depends on the funds. Technicolor Group was established in 1915 in Boston, Massachusetts, in the United States. The company made its name by using its colour styles in some iconic Hollywood movies, including The Wizard of Oz, Vertigo, The Trouble With Harry, and others. 

Technicolor is engaged in the film business and offers services such as visual effects, animation, motion graphics, and others to the entertainment, media, and ad industries. Recently, the company worked on two animated movies, "The Lion King" and "Mufasa." However, over the years, the company has worked on many movie series and films, leaving its legacy of post-production and animation. 

According to a report by The Hindu, Technicolor India employs 3,200 people, of which 3,000 work in Bengaluru. Globally, it has a workforce of 10,000 people in countries like India, the US, Canada, and France. Technicolor India Managing Director Biren Ghosh said that the company was not moving forward financially and operationally. He said that Technicolor did not function like an organisation anymore. Zerodha Facing Business Degrowth for 1st Time in 15 Years, CEO and Co-Founder Nithin Kamath Says Trading Volumes Drop 30% Amid Stock Market Crash.

Technicolor employs special effects experts, animators, graphic artists, and many others. Highlighting the situation, Biren Ghosh said it was unfortunate to have happened to such a best-class studio with talented people.

(The above story first appeared on LatestLY on Feb 28, 2025 05:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).