(DailyDig.com) – Pixar Animation Studios finally announced on May 14 that the anticipated layoffs would occur. Jim Morris, President of Pixar, sent a memo to his employees saying that those who are impacted by the layoffs have already been notified.
His memo reminded them of the discussions they had been having over the last year regarding a change from focusing on producing series for Disney+ in order to give priority to Pixar’s feature films. He stated that they would assist the departing employees to show the company’s appreciation for their hard work and dedication to Pixar.
Pixar has laid off nearly 14% of its employees with no intention of bringing them back. The actual number of employees laid off, nearly 175 out of 1,300, turned out to be fewer than they anticipated. Even so, the number of employees laid off is the highest in the history of Pixar. The layoffs had no impact on upper management.
Disney’s acquisition of Pixar has transformed their services from feature films to more of a content creator for the streaming platform for Disney+. The attempt to bring Pixar’s “Lightyear” and “Toy Story” back to theaters failed as a box office draw.
During that time, the Disney+ leadership was led by Bob Chapek, who became Disney’s CEO in the last few months of 2022. Then, in November 2022, Bob Iger, the previous CEO of Disney, returned to the position as Disney’s leader.
Iger stated that there is more competition in the streaming services industry and that the abundant quantity of streaming services offered by Disney is not necessary. He stated that there is an increased demand for high-quality theatrical films that Pixar plans to supply.
Currently, Pixar plans to release “Inside Out 2” to theaters on June 14, with theater owners holding out hopes for a successful box office. They also plan to release “Elio” in theaters in 2025, followed by “Toy Story 5” in 2026.
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