Pixar Animation Studios, a subsidiary of Walt Disney, is reportedly reducing its workforce as an excess of staff was observed post-completion of several shows. This decision is a result of the completion of streaming series projects at Pixar’s Emeryville studio in California. While the exact number of job cuts has not been confirmed, it is reported that it would not impact Pixar’s theatrical productions. Disney has not yet responded to Reuters’ request for comments. Earlier reports suggested a 20% reduction in the 1,300-strong team, but an official confirmation is yet to be received.
Disney’s CEO, Bob Iger, has been trying to streamline costs. As a result, there has been a strategic shift to reduce the production of in-house streaming content, and the company now aims to license shows and movies from third parties. Pixar’s job cuts in June of the previous year, when 75 positions including two executives associated with ‘Lightyear,’ were eliminated, also followed a similar trend.
Despite a slow start, Pixar’s movie ‘Elemental’, a romantic comedy centred around the coexistence of the four classical elements—fire, water, earth, and air—garnered nearly $500 million in global ticket sales after its release last year.
In 2006, Disney acquired Pixar Animation Studios in a significant collaboration between two major entertainment companies.
