Title: Pixar Faces Potential Layoffs Amid Disney+ Financial Progress
Pixar, the renowned animation studio, is said to be bracing for further layoffs in 2024 as Disney+ enjoys financial success while struggling to attain profitability. According to insider sources, these staff reductions could amount to a staggering 20%, which means the company’s current workforce of approximately 1,300 may be reduced to around 1,000 employees.
However, in response to these reports, Pixar has disputed the estimated figures, claiming that the precise number of affected employees remains uncertain and will depend on various factors such as production schedules. It should be noted that the layoffs are not expected to occur immediately, with industry insiders indicating that they are likely to take place later in 2024.
Among those who may be impacted are employees who were specifically hired for Disney+ projects. As Disney’s streaming platform continues striving for profitability, it anticipates achieving this goal in Fiscal 2024. Notably, Disney recently underwent a round of layoffs which affected 75 employees from Pixar, raising concerns about the studio’s future.
The current landscape for Pixar’s cinematic releases has been strongly influenced by the ongoing COVID-19 pandemic. Several highly anticipated films such as “Onward,” “Soul,” “Luca,” and “Turning Red” were compelled to adopt digital or Disney+ releases due to the limitations imposed by the global health crisis.
Despite these challenges, Pixar has an exciting lineup of forthcoming releases. Fans can anticipate the arrival of “Inside Out 2,” “Elio,” and “Toy Story 5,” which are poised to captivate audiences with their traditional blend of heartwarming storytelling and groundbreaking animation.
In light of the reports, IGN has reached out to Disney for official comment on the potential layoffs. Readers are encouraged to contribute any tips or story ideas related to this matter by contacting [email protected].
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