Payne wrote the script with Jim Taylor, his partner in Fox-based Ad Hominem Enterprises. Damon joined the project in November.
The story centers on a man in the near future who realizes that he would have a better life if he were to shrink himself at a time when humans are able to do so to battle over-consumption and the depletion of the Earth’s natural resources.
Payne and Taylor won an Oscar for adapted screenplay for “Sideways.” Payne most recently directed “Nebraska.” Payne and Taylor also wrote the Oscar-nominated script for 1999’s “Election,” which starred Witherspoon.
Witherspoon has been nominated for a SAG award and a Golden Globe for “Wild,” which she also produced. She is repped by CAA and Rick Yorn at LBI.
The news was first reported by Deadline.com.