Pixar Animation Studios, which produced classic films such as “Toy Story” and “Up,” began laying off about 14% of its employees starting Tuesday as it scales back development of its original streaming series, the developer said. This was revealed by a person familiar with the matter.
Approximately 175 people will be affected by the layoffs at the Walt Disney division.
The animation studio has been hiring additional staff to produce original series, as former Disney CEO Bob Chapek encouraged the company’s creative divisions to create content exclusively for Disney+.
Chapek’s successor, Bob Iger, has cut spending on original streaming content to turn Disney+ into a profitable business. The company’s entertainment division, which includes Disney+ and the Hulu streaming service, reported an operating profit in its most recent quarter.
Pixar is shifting its focus back to feature-length films, which will be released in theaters and then available for viewing at home through Disney+.
Win or Lose, an original series about a mixed-gender softball team, will be released on Disney+ this year.
Reuters reported on the first wave of layoffs last year, with a further wave coming early this year.
