Iconic 110-Year-Old Company Laying Off Hundreds In New York

Hundreds of New Yorkers are out of work following a decision from an iconic company.

According to a recent WARN Notice, Technicolor Creative Services USA is laying off hundreds of Empire State workers.

Technicolor Creative Services Laying Off Over 225 in New York

The WARN Notice states that all 226 people who work at the Technicolor Creative Services office at 451 Broadway in New York City have all be laid off.

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The employees were not represented by a union. "Insolvency" is the listed reason for the closure.

Technicolor is a 110-year-old company. The iconic Hollywood visual effects giant provided full color for classics like "The Wizard Of Oz" and "Gone With The Wind."

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More recently, the company worked on Disney’s live-action remakes of "The Ling King," "Mufasa," “Lilo and Stitch” and Paramount’s “Mission: Impossible — The Final Reckoning.” It also worked on the "Harry Potter" franchise.

According to Variety, Technicolor Group CEO Caroline Parot sent a memo to employees recently stating

Due to the inability to find new investors for the full Group, despite extensive efforts, [Paris-headquartered] Technicolor Group has filed for Court ‘recovery procedure’ before the French Court of Justice to give a chance to enable to find solutions.

Following that memo, the company started to shut down offices across the United States, including the office in New York City.

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Technicolor also began alerting its employees about mass layoffs and closings, sending U.S. employees a WARN notice.