Pixar to Undergo Significant Layoffs in 2024

Disney's animation studio to cut staff following completion of several productions and shift in content strategy.

Disney-owned Pixar Animation Studios is set to undergo significant layoffs this year, with reports suggesting up to 20% of its 1,300 staff could be cut.
The layoffs are attributed to an overstaffing situation following the completion of several productions, and a shift in focus towards making less content.
Many of the layoffs are expected to come from the team that was hired to produce content for Disney+, which has yet to turn a profit.
Disney CEO Bob Iger has previously indicated that the company will reduce its in-house streaming content and instead license shows and movies from third parties.
The layoffs follow a series of underperforming releases from Pixar, including 'Lightyear' and 'Elemental', although the latter eventually became the most-viewed film on Disney+ in the quarter of its release.