California-based animation studio Pixar, known for its renowned films like Toy Story and Finding Nemo, is set to undergo significant layoffs in 2024, according to reports. Techcrunch initially reported the news, stating that a reliable source claimed the job cuts could affect up to 20% of Pixar’s 1,300-person workforce. However, Pixar has disputed these figures, confirming the possibility of layoffs while asserting that the exact number of affected employees has not yet been determined, nor has the timing of the layoffs been finalized. An insider cited by Reuters, who is likely a studio spokesperson, assured that the layoffs would not impact Pixar’s upcoming theatrical releases.
Pixar has yet to comment on the matter, but insiders suggest that the remaining workforce will likely be maintained above 1,000 people, indicating that the layoffs may not reach the reported 20% figure. The driving force behind the job cuts appears to be the scaling down of streaming projects, including the much-anticipated Win or Lose series for Disney+. With these projects wrapped up and Disney CEO Bob Iger pausing further investments in streaming until profitability is achieved by the end of 2024, the studio finds itself adjusting its staffing requirements.
This isn’t the first time Pixar has faced personnel reductions. Just last year, they laid off 75 employees, marking the biggest staff reduction in ten years. Today’s news confirms ongoing downsizing efforts at the studio, signaling more challenges ahead in 2024. Despite these developments, Pixar remains committed to delivering their next theatrical feature, Inside Out 2, which is scheduled for release on June 14.
In summary, Pixar, the famed animation studio based in California, will be implementing significant layoffs in 2024. The exact number of affected employees and the precise timing of the job cuts are yet to be determined. However, insiders indicate that the staff count is expected to remain above 1,000 people. These layoffs are primarily attributed to the scaling down of streaming projects, following completion of productions like the Win or Lose series for Disney+. Pixar’s downsizing efforts have been evident since last year, when they laid off 75 employees. Despite this challenging trend, Pixar is determined to release their next theatrical feature, Inside Out 2, in June.