VANCOUVER — Employees at a Vancouver visual effects studio that worked on some blockbuster Hollywood films, including the recent “Lion King” remake, learned this week that the studio is ceasing operations in the city immediately.
CTV News has obtained an internal email circulated at Moving Picture Company informing employees of the decision.
“It is with regret we announce today that our Vancouver studio will cease operations effective immediately and refocus our geographical presence in other locations,” the email said.
“This decision has not been taken lightly. However, increasing external market pressures in Vancouver and more attractive opportunities in other locations have created a challenging environment for us to sustain the studio.”
The email goes on to say the company will continue to grow and expand in Montreal, Paris, Adelaide, Los Angeles and Toronto.
The Montreal office opened earlier this year.