Red Vision cuts studio jobs in restructuring plan

BAFTA-winning North West media company Red Vision VFX  is restructuring its business to halt losses and protect its long term prospects.

The Manchester company is closing down its studio business, a move which will cost 30 jobs.

Chief executive Dave Mousley said: “This was not an easy decision by any means. In the last 18 months the directors and shareholders have put something like £1.5m in to support the business.”

Mr Mousley said the Ancoats-based firm, which he said tuned over between £2.2m and £3m a year, would adopt the same business model as independent TV companies – with a small core staff which would then hire animation staff on a short term contract or project basis.

“The current situation is just not sustainable – and after 15 years it’s not easy doing this.

“We found that we’d make profits on each project, but when they’d finished we’d have to keep paying people. When you’ve got 25 animators earning between £40,000 and £70,000 a year, they are not cheap people.”

Mr Mousley said the restructuring of the studio business would not affect the company’s investment in 3D, where it is setting up a bespoke unit at The Sharp Project, the  independent hub for the creative and digital industries and entrepreneurs in the former Sharp electronics building in Newton Heath, Manchester.

“3D is very much the future and, as such, we need to ensure that we are in the very best possible position to be at the forefront of such a significant development. 

“That means investing in technology and partnering with people in new and innovative business models designed to work in times of unparalleled economic pressure and demands from clients in all sectors.

“We’re very proud of Red Vision’s past, but these changes show that we are totally committed to its future.”