14% Layoff Strikes Pixar, Largest in the Studio’s History
After being announced last year, Pixar now faces a 14% layoff, the largest in the studio’s history.
According to The Hollywood Reporter, Pixar is notifying its employees of a layoff of about 14% of its total workforce. This equals about 175 workers of 1,300 who previously worked at the studio. Although the studio’s top leadership will not be impacted, this is still the largest layoff in Pixar’s history.
Pixar will undergo significant layoffs in 2024.
As many as 20% of employees could be laid off but Pixar says the number is still to be determined.
(Source: https://t.co/1YGjcqLaBA) pic.twitter.com/XYDN0DLGKG— DiscussingFilm (@DiscussingFilm) January 11, 2024
These layoffs are part of Bob Iger’s mandate to emphasize quality over quantity and prioritize theatrical releases over streaming. Due to production schedules, Pixar is the last division at Disney to be hit with layoffs. However, employees at the company were aware of the possibility by January and more fortunately, the layoffs fell short of the 20% reported a few months ago.
Pixar, the foremost animation studio in Hollywood, continues to suffer from the pandemic and the growing Disney+ platform. Former CEO Bob Chapek forced two of Pixar’s films, Turning Red and Luca, into streaming releases despite theaters reopening at the time. As a result, Pixar’s first theatrical release after the pandemic, Lightyear, suffered immensely as audiences waited for the newest Pixar movie to air on streaming platforms. However, Pixar took a much-needed win last year with their animated romantic-comedy Elemental. This film became a sleeper hit, grossing nearly 500 million dollars.
Pixar’s ‘ELEMENTAL’ crossed $450M at the worldwide box office.
The movie releases on digital in 2 days. pic.twitter.com/dQhf7K7i6u— The Hollywood Handle (@HollywoodHandle) August 13, 2023
Now, Pixar looks forward to Inside Out 2, the sequel to Pixar’s Oscar-winning animated film from 2013, hitting theaters on June 14. This film stars Maya Hawke, Paul Walter Hauser, and Ayo Edibiri, in addition to the returning cast.
Beyond 2024, Pixar has two films set for theatrical release in 2025, Elio and Toy Story 5. Elio marks the solo directorial debut of Coco scribe Adrian Molina and stars Yonas Kibreab and America Ferrara. Meanwhile, Toy Story 5 is the fourth sequel to Pixar’s first-ever film, which starred Tom Hanks and Tim Allen.
You can check out all of your favorite Pixar films on Disney+.
