Renowned visual effects and animation company 'Technicolor' has initiated the closure of its US operations, casting a shadow of uncertainty over its Indian employees. The company, which owns prominent VFX and animation brands like MPC, The Mill, Mikros Animation, and Technicolor Games, has worked on notable projects such as Mufasa: The Lion King and has upcoming ventures like Disney's Lilo & Stitch live-action remake.Also Read: Wife of Agra IT employee denies allegations, claims 'Manav struggled with alcoholism, self-harm' (WATCH)In a recent town hall meeting, Technicolor India head Biren Ghosh revealed that the company is facing significant financial and operational challenges. Ghosh stated that Technicolor is "clearly financially and operationally not moving forward" and has reached a point where it is unable to function as an organization. This has resulted in a cash crunch, with the company unable to release funds to its Indian operations.According to market research firm Tracxn, Technicolor employed approximately 3,370 people in India as of February 2024. The shutdown of US operations has left Indian employees without their February salaries and uncertain about their provident fund contributions and other statutory benefits. Ghosh emphasized that the company's Indian operations are solely a production hub for Technicolor's international sites, with the Paris headquarters maintaining control over all corporate functions."India works and delivers for our various global sites. They are our customers; they deal with our clients world over, we deliver to them, we invoice them, and they pay us", he stated, adding, "Unless headquarters releases these funds, we will not be able to pay salaries or other dues which are quite significant across the company in India". “We have all been impacted by this like everyone else on this call,” he further said.CEO Caroline Parot has assured employees that the company is exploring ways to sustain operations in each country. Ghosh reiterated this, stating that the company is working to find alternative solutions to maintain its Indian operations. However, the sudden shutdown has left employees in a state of uncertainty, awaiting clarity on their future with the company.Also Read: BREAKING: Suicide bombing inside mosque during Friday prayers in Pakistan; many killed, wounded (WATCH)