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Stock impact report

Quixote Studios Shutters Atlanta Operations, Lays Off 70 Amid Production Downturn [Yahoo! Finance]

Hudson Pacific Properties, Inc. (HPP) 
Last hudson pacific properties, inc. earnings: 2/20 06:00 am Check Earnings Report
US:NYSE Investor Relations: hudsonpacificproperties.com
Company Research Source: Yahoo! Finance
company reorganizes amid the ongoing downturn in production, the company announced Tuesday Parent company Hudson Pacific Properties will redeploy equipment from Atlanta to Los Angeles and New York, where its fleet, lighting and grip, production supplies and communications rental services will continue operating. Hudson Pacific Properties added that these actions will take place over the coming quarters to minimize disruption for Quixote clients. The move is aiming to land $21-$27 million in potential annualized cost savings. Quixote Studios will also vacate most of its leased soundstage facilities in Los Angeles. “Quixote's fleet, equipment and supply rentals remain fully operational and ready to support production needs,” Sean Griffin, Senior Vice President of Sales for Quixote, said in a statement to TheWrap. “For clients of Quixote's sound stage and Atlanta operations, we are taking a phased, collaborative approach to minimize disruption, while continuing to deliver a high Show less Read more
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