Pixar Animation Studios is undergoing massive layoffs. Almost 14% of the company is expected to be let ago, according to The Hollywood Reporter.
The studio will notify employees of the move in the coming days, according to THR’s report, with the move being planned as the biggest restructuring in the company’s history. Leadership at the top of the company isn’t expected to be impacted, however.
Currently, 1,300 employees are with Pixar, so the layoffs will effect approximately 175 workers. According to THR, layoffs are part of Disney’s ongoing effort to return the company back to focusing on quality, instead of releasing more content made for streaming services.
Layoffs have been rumored to be occurring since January
Disney CEO Bob Iger has spoken over the past few months about how various teams within Disney were already stretched too thin in an effort to make as much as possible.
Pixar’s last film, Elemental, initially launched to lukewarm results at the box office, but enjoyed an incredibly long run that eventually saw it earn almost $500 million. Up next for the company is the highly anticipated Inside Out 2, which releases in theaters on June 14, 2024.
The full memo from Pixar president Jim Morris to staff regarding the move is below (via THR):
Hello everyone.
I have spoken to you many times over the last year about our pending move away from series production for Disney+, the return to our focus on feature films, and the reduction in our team that would accompany that. That day is here, and while it is not coming as a surprise to anyone, it is one of the hardest changes we’ve had to make, as it means we will be parting with a number of talented and dedicated colleagues and friends.
Today, leaders will begin the process of notifying employees whose positions are being impacted. Calendar invites to speak with a leader have already gone out to those individuals, and we anticipate we will have connected with everyone impacted by the end of the day.
I want to assure you that will be providing extensive support as our colleagues start to transition out of the studio. We are committed to ensuring that their departure is handled with the utmost respect and care at every stage. This is important to me, and I understand how important this is to all of us in the Pixar community. I will host a brief Studio Meeting via Zoom this afternoon at 5:00 to talk more about today’s announcement.
Despite the challenges in our industry over the past few years, you have all consistently shown up to contribute, collaborate, innovate, lead, and do great work at this studio. I give you my deepest thanks, and for those who will be leaving us, I am hopeful that our paths will cross again, both professionally and personally.
Jim
