‘Dune’ VFX Firm DNEG Asking Staff To Take 25% Pay Cuts Or Join Loan Scheme As Strikes Wreak Havoc
deadline.comEXCLUSIVE: Just weeks after laying off dozens in its London HQ, Dune VFX firm DNEG is asking staff to take up to 25% pay cuts or join a loan scheme, as work slows to a standstill due to the strikes.
Insiders believe their contracts will be terminated if they don’t agree to the measures. DNEG’s plus-10,000 employees across the globe have been given a choice, sources say.
They are being asked to take cuts of between 20% and 25% for seven months depending on salary (a higher percentage for those paid more) or, for those who can’t afford the cuts, they are being given a larger cut but then loaned back the majority, which they then pay back over three years.
One source gave an example of taking a pay cut of 50% before being immediately loaned back 40%, payable with no interest over the longer 36-month period.
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