Pixar Animation Studios Makes Major Staff Cuts After 'Lightyear' Box Office Disappointment

Pixar has laid off 75 employees, its largest reduction in decades, as part of Disney's cost-cutting plan.
The layoffs included two executives who worked on the recent film 'Lightyear,' which lost Disney $106 million.
'Lightyear' could not be shown in many Middle Eastern and Asian countries due to depictions of a same-sex relationship.
The job cuts are part of Disney CEO Bob Iger's plan to cut costs by up to $5.5 billion and eliminate 7,000 positions across Disney.
Pixar's last major layoffs were in 2013 following the delay of 'The Good Dinosaur.'