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From “Back” To Bust: Inside The Epic Implosion Of Technicolor
The iconic film company has had a tough few years but the scale and speed of its implosion caught many by surprise.
He said: “The India leadership team was brought to this stage of finality alongside all of you; we were not privy to the situation that we would receive a mail out of the blue saying that Paris has gone into receivership or liquidation, or whatever it is, and I myself have been in touch with many of our global leaders, many of the people that run our brands in other parts of the world, and they were equally unaware of the suddenness of this particular event, which came to them as it did to us, without advance notice or warning.” In the virtual meeting, Ghosh gives no explanation for the crash but acknowledges that Technicolor India is “financially and operationally not moving forward, and we’ve reached a stage where, unfortunately, we’re unable to function as an organization”. Shaun Severi, Head of Creative Production at the Mill, claimed in a LinkedIn post that 4,500 had lost their jobs in 24 hours: “The problem wasn’t talent or execution — it was mismanagement at the highest levels…the incompetence at the top was nothing short of disastrous.”
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