Pixar to Lay Off 175 Employees as Part of Disney's Cost-Cutting Plan

TapTechNews May 22nd news, The Guardian of the UK said that Pixar Animation Studios will lay off about 175 people. In fact, as early as January this year, there were rumors that this company would carry out layoffs, accounting for about 14% of the layoffs.

The Guardian said that this round of layoffs is part of Disney's cost reduction and efficiency improvement plan, aiming to reduce the scale of Disney+'s original series and film development, so that its streaming media business can make better profits. Therefore, Pixar will once again focus all its energy on the field of making theater movies.

It is worth noting that although Pixar has been a box office guarantee in previous years, the studio's development in recent years has actually not been smooth.

Disney said that the idea of letting the audience get used to the fact that Pixar movies will eventually be streamed online on Disney+ is wrong (TapTechNews note: Soul, Luca, and Turning Red were forced to choose online premieres due to the epidemic).

They believe that this may be one of the reasons why the box office of the Toy Story spin-off movie Lightyear is lower than expected. In addition, although the Elemental released last year has a good reputation, the final box office is still far lower than that of Pixar's previous works.

Pixar hopes that the Inside Out 2 (the sequel to one of its most successful movies in history) to be released next month can reverse the decline. In addition, Disney's entire animation department will also pay more attention to creating IP series movies, and IP works such as Toy Story, Frozen, Zootopia, and Moana will be launched in the next few years.