Technicolor Announces The Mill Shutdown In Employee Memo — Report
Citing "severe financial challenges" on Friday, Technicolor announced it is shutting down The Mill, MPC Advertising and Mikros Animation.
Dear Employees,
As we have communicated over the past months, Technicolor has been facing severe financial challenges. 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 acknowledging that the Company may be forced to foreclose.
In line with applicable state and federal legislation, please find attached a WARN Notice. If no viable solution is identified by the end of today, Friday, February 21, 2025, we will be required to cease our U.S. operations as early as Monday, February 24, 2025.
If you reside in one of the following states: CA, CO, MA, UT, CT, OR, NV, please review and complete the attached direct deposit authorization form and return it to hrops.us@technicolor.com ASAP if you agree to receive your final paycheck through direct deposit.
We understand that this news is difficult, and we will provide further updates as soon as we have more information.
Thank you for your patience and support during this challenging time.
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