Pixar laid off 75 employees in the middle of last year as part of a series of cuts.
Pixar confirmed today that 175 employees, equivalent to 14% of its workforce, were laid off.
Pixar employees have been preparing for layoffs since January, but the cuts were smaller than the speculated 20% reduction.
Pixar, once considered the gold standard of family films, has been struggling since the pandemic when its corporate bosses at disney They used the animation brand’s pedigree to underpin their new streaming service.
During that period, new offers “Soul”, “Luca” and “Turning Red” were sent directly to Disney+ and family audiences became accustomed to waiting for those movies at home. When he returned to prioritizing theatrical releases, moviegoers rejected the spin-off of “Toy Story” with a budget of 200 million dollars, “Lightyear”which marked Pixar’s second consecutive flop after “Onward” of 2020 (which premiered just before theaters closed due to Covid-19). Although “Elementary” ended with $495 million worldwide, far more than its disappointing opening weekend would have suggested, and far less than previous Pixar films have grossed.
Pixar’s “mistake” during the pandemic
Pixar has admitted to these errors and has since attempted to correct them. “During COVID, we empowered audiences to watch our movies on Disney+. “I won’t say there were many options,” Pixar president Jim Morris told Variety. “For periods of time, it was the only thing we could do. We have a little work left to release the bell and motivate families to go to the movies and not wait a few months to see it on Disney+.”
Exhibitors believe that the studio’s next sequel, “Inside Out 2”, which will premiere on June 14, will have the humor and charm necessary to restore the shine of the animation company. Pixar’s list also includes “Elio” in 2025 and “Toy Story 5” in 2026. Among the company’s most important films are “Finding Nemo”, “Up” and “The Incredibles”.
Disney suffered layoffs in 2023, then representing about 3.6% of the total workforce of about 220,000 people worldwide, as the media conglomerate attempted to cut costs. Pixar laid off 75 employees in the middle of last year as part of those company-wide cuts, according to Reuters. These additional layoffs are due to the company’s efforts to reduce direct-to-consumer series in favor of feature films.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
