Pixar Animation Studios, which produced classic films like ‘Toy Story’ and ‘Up’, began mass layoffs on Tuesday (May 21). Pixar will lay off about 175 employees, or about 14% of the studio’s workforce, according to a spokesperson for parent company Walt Disney. According to the information, the company has taken this decision at a time when CEO Bob Iger is focusing more on the quality of the content rather than the quantity.
Last year’s layoffs significantly affected Disney’s other businesses, but Pixar’s cuts were delayed due to production schedules. It was initially reported that the animation would lay off 20% of the studio’s staff, which is six percent less than the current figure.
Iger, who will return to the post of CEO at the end of 2022, is currently working to overcome the company’s box office crisis. Disney has had mixed success at the box office in the past with several franchises, including the Marvel Cinematic Universe. However, the company finds it challenging to connect animated features with audiences.
Let us tell you that since 2019, no Disney animated feature from Pixar or Walt Disney Animation has earned more than $480 million at the global box office. At the same time, just before the Corona epidemic, ‘Coco’ had earned $ 796 million worldwide, while ‘Incredibles 2’ had earned $ 124 million globally and ‘Toy Story 4’ had earned $ 107 million globally.
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