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Updated January 15th, 2024 at 15:09 IST

Walt Disney’s Pixar Animation Studio plans job cuts

Disney acquired Pixar in 2006, aiming to revitalise its struggling Disney Animation division.

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Pixar Animation Studio
Pixar Animation Studio | Image:Pixar
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Pixar job cuts: Pixar Animation Studios, a subsidiary of Walt Disney, is planning job cuts following the completion of production on certain shows, as it currently has a surplus of staff, according to a source familiar with the matter, as reported by Reuters on Thursday.

Image Credits: X

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Earlier reports from TechCrunch suggested that Pixar might see layoffs of up to 20 per cent in 2024, reducing the studio's team from 1,300 people to under 1,000 in the coming months. 

However, the source disputed this figure, stating that Pixar has not determined the exact number of job reductions, and the layoffs are not imminent. The source did not provide an estimate of the expected job cuts but stressed that they would not impact Pixar's theatrical projects.

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The surplus in staff is attributed to Pixar's Emeryville studio in California, which hired personnel for the completion of streaming series. As these projects conclude production, the studio finds itself with more employees than necessary.

Disney has not responded immediately to Reuters' request for comment. CEO Bob Iger, who returned in 2022 to lead the company's turnaround, has indicated a strategy to reduce the production of in-house streaming content to control costs. Instead, Disney plans to licence shows and movies from third parties.

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Last June, Pixar cut 75 positions, including executives tied to the box office disappointment "Lightyear," marking the studio's first major job cuts in a decade.

Despite a slow start, Pixar's film "Elemental," a romantic comedy centred around the coexistence of the classical elements – fire, water, earth, and air – earned nearly $500 million in global ticket sales after its release last year.

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Disney acquired Pixar in 2006, aiming to revitalise its struggling Disney Animation division.

(With Reuters Inputs)

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Published January 12th, 2024 at 07:57 IST

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