Pixar lays off 14% of its employees and wants to focus on feature films – Libération

Pixar lays off 14% of its employees and wants to focus on feature films – Libération
Pixar lays off 14% of its employees and wants to focus on feature films – Libération

The Disney subsidiary began laying off 14% of its workforce on Tuesday, May 21, announcing in the process to abandon the production of content for the Disney+ streaming platform in order to concentrate on the production of animated films. In total, around 175 people are affected.

The Pixar animation studios, a subsidiary of Disney, began to lay off 14% of their employees on Tuesday, May 21, announcing in the process to abandon the production of content for the Disney + streaming platform in order to concentrate on the production of films. entertainment. In total, around 175 people are affected, which is less than what was initially anticipated when the American group, at the start of the year, explained that it wanted to reduce Pixar’s costs. In an internal letter consulted by the New York TimesPixar Chairman Jim Morris explained to employees that the studio wanted “focus on films again”.

Pixar, long untouchable in the Disney galaxy, found itself in difficulty after the failure of Buzz Lightninga film released in 2022, which focused on one of the films main characters Toy Story. It ultimately only generated $226 million at the box office, on a budget of $200 million. The next year, Elementary had also disappointed, with just under $500 million in box office revenue, for a roughly identical budget. At the same time, Pixar produced several animated series in order to strengthen the Disney + offering, during the launch of the platform, such as Cars: On the roadfrom the eponymous trilogy, or Welcome to Dougwhich features the dog from the film Up there.

More than 8,000 layoffs at Disney

The studio hopes to regain success with the release of Vice versa 2which will allow the viewer to once again follow the tribulations of Riley’s emotions, becoming a teenager, then Eliostory of a little boy struggling to integrate into his school who finds himself ambassador of the Earth to extraterrestrial civilizations, scheduled for 2025.

Disney embarked on an all-out cost hunt last year, with the return of its former boss, Bob Iger, leading to the layoffs of more than 8,000 people – mainly in its media arms, including Disney +. In the second quarter of its staggered financial year, the group announced that, for the first time, its streaming service was generating profits, after having only experienced losses since its launch in 2019. Its net profit from Disney, however, fell to 216 million dollars, compared to 1.5 billion over the same period in 2023, mainly due to the depreciation of assets and despite the production of its turnover.

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