Digital visual effects (VFX) now comprise one-third of total production spending on major feature film releases. They also are a significant and growing component of production budgets for television programming and commercials. Yet, despite the rising status of VFX, this sector of the media business has been in turmoil for over a decade, a situation made palpable by recurring waves of bankruptcies and layoffs, most notably including Rhythm & Hues, the company that scored the 2013 Oscar for VFX in Life of Pi. This essay analyzes the increasingly globalized mode of production in the VFX industry. We critically examine the specific practices and protocols of the VFX business, demonstrating their impact on workers and labor-organizing efforts. Tying together insights from political economy, creative economy, and production studies, the essay offers a middle-range analysis that connects specific local labor conditions to broader trends in the media industries.