FORT LEE, New Jersey, (PRWEB) March 30, 2013
Despite winning an Academy Award and industry praise for its visual effects in “Life of Pi,” Hollywood-based visual effects company Rhythm & Hues has declared bankruptcy. A new blog from online magazine PortNoise.com titled “Hollywood’s Visual Effects Industry is the Latest Victim of Outsourcing” addresses the plight of Rhythm & Hues and other Hollywood businesses being bypassed for new work by Hollywood studios in cost-cutting moves that have visual effects work being outsources to studios in China, India and Malaysia.
Despite its success with “Life of Pi,” Rhythm & Blues’ work wasn’t enough to pay the bills according to guest blogger Kawika Maszak. In fact, theirs is not a singular story, which is why Hollywood has taken to outsourcing visual effects work to countries where the work can be done for a fraction of the cost U.S. companies charge.
The cost to U.S. visual effects companies and jobs is already taking a toll, as some of Hollywood’s biggest visual effects companies have been hit hard by outsourcing; In September, Digital Domain, founded by Academy Award-winning Director James Cameron, declared bankruptcy, bought by an Indian company named Reliance MediaWorks, in partnership with a company from China called Galloping Horse.
Rhythm & Hues Chapter 11 bankruptcy cost 250 employees their jobs, and many of those employees are now involved in a class-action complaint against their former employer, claiming that their contracts were terminated without proper notice. Ironically, Rhythm & Blues was purchased by an Indian VFX company called Prana Studios.
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