Disney's Pixar, the animation studio behind blockbuster series “Toy Story,'' “The Incredibles,'' and “Finding Nemo,'' is reportedly planning to cut jobs.
The studio said, “We have completed production on some programs and currently have more staff than necessary.'' Reuters reported on Fridaysaid an anonymous source.
TechCrunch reported Earlier this week, Pixar announced that it plans to cut its workforce by up to 20% this year, reducing the number of people working at its studios from the current 1,300 to about 1,000.
However, an anonymous source disputed this figure, saying the studio had not yet decided how many people would be cut, but adding that layoffs were “imminent.”
Disney and Pixar did not respond to requests for comment.
Disney CEO Bob Iger, who returned to Disney in 2022 to help turn around the struggling entertainment and media giant, said the company would produce less streaming content to keep costs down and instead The company has hinted at licensing programs and movies from third parties. .
Last June, Pixar cut 75 jobs, including two executives responsible for the box-office flop “Lightyear,'' the studio's first major job cuts in 10 years.
The 2022 animated film, which focuses on the “Toy Story” character Buzz Lightyear, had a budget of $200 million.
It grossed $226.4 million worldwide.
The studio, which generates more than $1 billion in revenue per film from its hit franchises, has been affected by the slow return of moviegoers to movie theaters in the wake of the pandemic.
Last year's film “Elemental” had a slow release, but the romantic comedy about the classic four elements of fire, water, earth and air picked up pace, bringing in nearly $500 million in ticket sales worldwide. .
Disney acquired Pixar in 2006 in an effort to revitalize Disney Animation, which was in financial trouble. Mr. Iger recently made this move. He told CNBC that it was probably “his best acquisition.” Currently enrolled at Mouse House.
