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  • 5/21/2024
Major layoffs have begun at Pixar, the animation studio behind hits franchises like 'Toy Story,' 'The Incredibles' and 'Finding Nemo.' The Hollywood Reporter has learned that leadership at the storied company that was bought by Disney in 2006 and brought viewers films like 'Up' and 'Coco' will notify employees of the reductions today. The long-expected restructuring will be the biggest in Pixar's history, although top leadership isn't impacted. Approximately 14 percent of Pixar's workforce, or around 175 employees, will be let go. Before the reductions, approximately 1,300 people worked at the animation studio.

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00:00 Major layoffs have begun at Pixar, the animation studio behind hit franchises like Toy Story, The Incredibles, and Finding Nemo.
00:07 The Hollywood Reporter has learned that leadership at the storied company that was bought by Disney in 2006
00:13 and brought viewers films like Up and Coco will notify employees of the reductions today.
00:18 The long-expected restructuring will be the biggest in Pixar's history, although top leadership isn't impacted.
00:24 Approximately 14% of Pixar's workforce, or around 175 employees, will be let go.
00:30 Before the reductions, approximately 1,300 people worked at the animation studio.
00:34 The layoffs are part of Disney chief Bob Iger's overarching mandate to return to a focus on quality, versus turning out content for streaming.
00:41 Pixar employees have known since January that layoffs were coming.
00:45 There were layoffs across all of Disney last year, but sources say cuts at Pixar were delayed because of production schedules.
00:51 Pixar, led by Pete Docter, will no longer be focusing on direct-to-streaming series, but on its feature films.
00:57 That excludes the Disney+ series Win or Lose, which is set to debut later this year.
01:01 Up next, Pixar will release Inside Out 2 in theaters on June 14.
01:16 Other upcoming films include next year's Elio and Toy Story 5 in 2026.
01:21 For much more on this story and all the latest news, go to THR.com. This is The Hollywood Reporter News.
01:28 (upbeat music)
01:30 (upbeat music)

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