• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Pixar is laying off 14% of its workforce as Disney scales back content
Editor's Pick

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

by May 22, 2024
by May 22, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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
You Might Also Like
  • Fibocom’s MediaTek-based 5G Module FG370-EAU Extending Leadership in FWA Market with Global CE and GCF Certifications
  • Supreme Court declines to hear case challenging FDA authority to reject flavored e-cigarettes
  • Extreme heat is prompting higher home cooling costs. It is also putting some individuals at risk
  • Autoworkers go on strike at plants at each of the Big Three automakers
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Spirit Airlines gets rid of change and cancellation fees, joining Frontier
next post
Stock Market Behavior: Separating Signal From Noise

You may also like

Pending home sales drop to a record low, even worse...

December 3, 2023

Target says its holiday sales were better than expected —...

January 16, 2025

Home Depot expects sales to weaken as consumers grow more...

August 14, 2024

All the data so far is showing inflation isn’t going...

April 27, 2024

Homebuyers and sellers face an uncertain wait for billion-dollar verdict...

November 3, 2023

A Burt’s Bees, Hidden Valley Ranch lip balm collaboration has...

January 20, 2024

A government shutdown could really stress out the air travel...

September 29, 2023

Bloomberg plans to integrate GPT-style AI into its terminal

April 15, 2023

McDonald’s is working to introduce a $5 value meal

May 11, 2024

Disney tops quarterly profit estimates but starts to lose Disney+...

February 6, 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.

    Recent Posts

    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025
    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp up Max production, CEO says

      May 29, 2025
    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

      May 29, 2025
    • Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?

      May 29, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,764 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,470 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,450 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,431 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,307 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,105)
    • Investing (538)
    • Stock (2,578)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’...

      May 30, 2025
    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp...

      May 29, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,105)
    • Investing (538)
    • Stock (2,578)

    Disclaimer: RoundTableThoughts.com, 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 © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Sony and Apollo send letter expressing...

    May 4, 2024

    Netflix password sharing crackdown rolls out...

    May 24, 2023

    Workers earning up to $58K a...

    April 26, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here