Technicolor to Cut 600 Jobs

20 Dec, 2011 By: Chris Tribbey

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Pointing to declines in its European digital business, Paris-based replicator Technicolor announced it will cut approximately 600 jobs during 2012 and take other cost-cutting measures.

Technicolor’s digital delivery division is expected to post a full-year loss of nearly $51 million, but overall the company expects to end the year with a positive cash flow, with adjusted earnings of $621 million.

The company is looking at strong 2012 growth in Asia, Australia and the United States, but a weaker European market sees Technicolor relying more on an outsourcing component and other work.

The company also announced it’s looking at improving production facilities in Manuas, Brazil and Angers, France, as well as cutting back on some research and development activities.

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