Pixar Animation Studios, a subsidiary of Walt Disney, is in the process of reducing its workforce. The decision was reportedly taken when an excess of staff was observed post completion of several shows.
The staffing adjustments, say media reports, were a result of the completion of streaming series projects at Pixar’s Emeryville studio in California. While no estimate has been provided as to the number of jobs that will be cut, it appears to be clear that it would not impact Pixar’s theatrical productions. Disney, as of now, has not responded to Reuters’ request for comments. Earlier reports did hint at a 20 per cent reduction in the 1,300-strong team. Official confirmation regarding the final number is yet to be received.
Bob Iger, CEO, Disney has been endeavouring to streamline costs. As a result, there has been a strategic shift to reduce the production of in-house streaming content. Instead, the company aims to license shows and movies from third parties. This move follows Pixar’s job cuts in June of the previous year, when 75 positions, including two executives associated with ‘Lightyear,’ were eliminated. Despite the slow start, Pixar’s movie ‘Elemental’, a romantic comedy centred around the coexistence of the four classical elements—fire, water, earth and air—garnered nearly $500 million in global ticket sales after its release last year.
In 2006, Disney acquired Pixar Animation Studios, marking a significant collaboration between two major entertainment companies.
