In a major report at Deadline, “Dune: Part Two” and “Oppenheimer” VFX firm DNEG is asking staff to either take up to a 25% pay cut or join a loan scheme to lower costs.
Sources for the outlet say DNEG’s 10,000+ employees across the globe have been given 11 days to make the choice, and insiders: “believe their contracts will be terminated if they don’t agree to the measures.”
The cuts will largely be determined based on salary with most expected to 20-25% for seven months. The loans are being presented as an option for those who can’t afford to take such a large cut at this time and ultimately work out to a similar % amount in terms of salary cut.
According to a lengthy DNEG statement sent to the outlet, the move will: “enable us to maintain the maximum number of jobs through this period”.
The pay cut is similar to those imposed during the early months of the pandemic at multiple firms, including DNEG. The dual strikes have led to a major loss of work for multiple VFX firms.
The Broadcasting, Entertainment, Communications and Theatre Union’s (BECTU) VFX and animation branch in the UK is set to hold a Zoom meeting to discuss what happens next and reminds workers DNEG can’t legally force a reduction in pay without their consent.
One employee tells the outlet: “We feel like DNEG is not offering anything to compensate but are instead pushing all the weight and risk on the employee.”
This all follows on from DNEG laying off around 7.5% of its London HQ workforce in July.
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