Pixar Animation Studios, renowned for creating beloved films like “Toy Story” and “Up,” have laid off, affecting about 14% of its workforce on Tuesday, Reuters reported.
Around 175 individuals will be impacted by the job cuts at this division of the Walt Disney Co.
Previously, the animation studio had expanded its staff to produce original series, in line with the directive from former Disney CEO Bob Chapek, who urged all creative units within the company to generate exclusive content for Disney+.
However, Bob Iger, Chapek’s successor, has opted to reduce spending on original streaming content, aiming to bolster Disney+’s profitability. Notably, the entertainment division, encompassing Disney+ and Hulu, reported an operating profit in the latest quarter.
Pixar will now refocus its efforts exclusively on feature films, which will debut in theaters before becoming available for home viewing via Disney+.
The only original series in the pipeline, “Win or Lose,” centered around a co-ed softball team, is set to premiere on Disney+ later this year.
