The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Pixar is laying off 14% of its workforce as Disney scales back content

by admin May 22, 2024
May 22, 2024
Pixar is laying off 14% of its workforce as Disney scales back content

Long-expected layoffs are hitting Pixar Animation Studios today.

Pixar will lay off about 175 employees, or around 14% of the studio’s workforce, a spokesperson for parent company Walt Disney told CNBC. The cuts come as CEO Bob Iger works toward his overarching mandate to focus on quality content, not quantity.

Layoffs hit other Disney businesses last year, but Pixar’s cuts were delayed because of production schedules. Initially, it was expected that 20% of the animation studio’s employees would be laid off.

Iger, who returned to the mantle of CEO in late 2022, has been working to reverse the company’s box office woes, spurred both by the company’s content decisions and pandemic shutdowns. While Disney has seen mixed box office success with a number of franchises, including the Marvel Cinematic Universe, its has faced a challenge getting its animated features to resonate with audiences.

When theaters closed during the pandemic, Disney sought to pad the company’s fledgling streaming service Disney+ with content, stretching its creative teams thin and sending theatrical movies straight to digital.

The decision trained parents to seek out new Disney titles on streaming, not theaters, even when Disney opted to return its films to the big screen. Compounding Disney’s woes, many audiences members started to feel the company’s content had grown overly existential and too concerned with social issues beyond the reach of children.

As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019. For comparison, just prior to the pandemic, “Coco” generated $796 million globally, “Incredibles 2″ tallied $1.24 billion globally and “Toy Story 4” snared $1.07 billion globally.

With Iger back at the helm, Pixar will refocus on theatrical releases and move away from short-form series for Disney+.

— CNBC’s Julia Boorstin contributed to this report

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Spirit Airlines gets rid of change and cancellation fees, joining Frontier
next post
Warner Bros. Discovery and ESPN strike 5-year deal for College Football Playoff games

Related Posts

Lara Trump to host weekend show on Fox...

February 7, 2025

Bucking trend, McDonald’s vows no egg surcharges as...

February 27, 2025

Drone company’s stock soars after appointing Donald Trump...

November 28, 2024

Costco and Teamsters reach tentative contract agreement, avoid...

February 3, 2025

Disneyland workers reach tentative deal with company, averting...

July 25, 2024

Wayfair CEO likens home goods slowdown to 2008...

August 2, 2024

College protesters want their schools to divest from...

April 26, 2024

Warner Bros. Discovery and ESPN strike 5-year deal...

May 23, 2024

With Trump digital coins, billions of dollars —...

January 23, 2025

CEOs want workers back in offices—this company is...

February 22, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • The Real Drivers of This Market: AI, Semis & Robotics

      July 21, 2025
    • What Musk’s fracture with Trump means for GOP’s future: ‘Beating heart of the Republican Party’

      July 21, 2025
    • Trump’s housing chief rips Powell for blowing millions on Fed facelift during housing crisis he perpetuates

      July 21, 2025
    • Trump celebrates 6 months back in office: US ‘totally revived’ after being ‘DEAD’ under Biden

      July 21, 2025
    • Biden admin spent hefty sum of US tax dollars to upgrade embassy swimming pools in Iraq, Russia

      July 21, 2025
    • Trump heads to Scotland, continues ironing out trade deals after notching six months back in office

      July 21, 2025

    Categories

    • Business (1,299)
    • Politics (4,040)
    • Stocks (1,535)
    • Uncategorized (45)
    • World News (1,292)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved