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The layoffs at Disney's Pixar Animation Studios have started, as the company reportedly works on restructuring. According to The Hollywood Reporter, about 175 employees, which is about 14% of the total workforce, were affected by the upcoming changes as they were out of jobs on Tuesday, May 21, 2024.
By focusing on fewer, higher-quality projects, Disney aims to reinvigorate its animation division and uphold its storied legacy in the industry. They're shifting away from making content mainly for streaming platforms.
The layoffs mainly affected lower-level employees as part of cost-cutting measures and making sure that only the best of the best staff continued to stay and work for Disney Pixar once the layoffs were done.
Pixar layoffs amid company restructuring
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Pixar has decided to cut some jobs after rumors started circulating back in January 2024. Originally, there were talks about letting go of 20% of their employees, but they ended up only cutting 14%, which is around 175 people out of the 1,300 who work there. This all fits in with Disney CEO Bob Iger's new focus on quality content over quantity, a big change from the way things were done when Bob Chapek was in charge.
Jim Morris, the President of Pixar, sent out a memo to the staff, talking about how tough this transition will be. He thanked those who would leave for their dedication and hard work, promising to support them through their departure. Pixar is making some changes and will no longer be making movies just for streaming services. They're going to focus on feature films, except for the Disney+ series Win or Lose which is still set to come out later this year.
The layoffs at Pixar are just another example of the cuts happening at Disney, where there have been a lot of layoffs recently. The layoffs at Pixar were put off for a while because of their busy production schedule.
Impact on Pixar and the Disney animation industry
Pixar decided to stop releasing content on streaming platforms after facing some tough times. Due to the pandemic, movies like Luca, Coco, and Turning Red were released on Disney+ instead of in theaters. This was part of a plan by the Chapek leadership to boost its streaming service, but it ended up hurting Pixar's reputation for releasing movies in theaters.
After the pandemic, Pixar's movie Lightyear got some mixed reviews, making people question where the studio was headed. But then they released Elemental which did well, making almost $500 million worldwide and becoming a big hit in theaters and on streaming services. Pixar's upcoming lineup of movies looks pretty exciting.
Inside Out 2 is coming out in June, and its trailer is already breaking records. They've also got Elio hitting theaters in 2025 and Toy Story 5 in 2026, showing that Pixar is stepping up its game in the film industry. The layoffs and restructuring at Pixar underscore a broader trend in the company to recalibrate its content strategy. This shift is driven by the need to enhance the overall quality of productions while ensuring that creative teams are not overstretched.
Mark your calendars for June 14, 2024, when Inside Out 2 will be in theaters.
