Due to the poor performance of Happy Feet Two at the box office, 600 of the 700 employees at Dr. D Studios are getting laid off in early-December, according to IF.com.au.
As of Nov. 25, the sequel to the Academy Award-winning Happy Feet has made an estimated $35.5 million. The estimated budget was a whopping $140 million.
The one positive is some of the 600 employees will receive job offers from a new company that Kennedy-Miller Mitchell Films is launching in 2012. The Australian film company launched Dr. D Studios as a joint deal with Omnilab Media.
“We obviously came in a little bit under our expectations on Happy Feet,” Warner Bros. president of distribution Dan Fellman told TheWrap. “The market expands enormously over the holiday. By next Monday, we’ll know whether we’re in good shape.”