Pixar Animation Studio has announced the termination of approximately 175 employees, amounting to 14% of the total workforce. This is not breaking news as Pixar had confirmed the layoff plan back in January, but the actual number of employees let go was lower than previously anticipated at 20%.
The challenges faced by Pixar began with the COVID-19 outbreak, leading to the adjustment of their animated feature film plans, such as Soul, Luca, and Turning Red, premiering on the Disney+ platform to attract viewers. However, when the company reverted to releasing animated films in theaters as usual, like Lightyear, the results were not as successful. While Elemental managed to bring in $495 million, it still fell short compared to Pixar’s previous works.
Pixar’s current strategy involves having animated films debut in theaters first to achieve success, aiming to motivate viewers to not wait months to watch them on Disney+. Their next upcoming film is Inside Out 2 (scheduled to premiere in Thailand on June 12th), with future projects including Elio in 2025 and Toy Story 5 in 2026. Source: Variety
TLDR: Pixar has laid off 175 employees, facing challenges due to COVID-19. They are now focusing on releasing animated films in theaters first to boost success before Disney+ streaming. Upcoming projects include Inside Out 2, Elio, and Toy Story 5.
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