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Pixar plans to cut jobs

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The studio plans to cut jobs as they have already wrapped production on several shows.

Walt Disney Company’s ( DIS.N ) animation studio Pixar plans to cut jobs. Reuters reported this, citing information from an anonymous person familiar with the situation.

It was noted that this decision was made because the studio had finished production on several shows and now had more staff than it needed.

TechCrunch previously reported that Pixar plans to cut up to 20% of its workforce this year, with the studio’s 1,300-person team expected to shrink to fewer than 1,000 in the coming months.

The source denied that figure and said Pixar has not yet determined how many employees will lose their jobs and layoffs are imminent.

Additionally, Disney CEO Bob Iger said the company will reduce the amount of streaming content it produces in-house to contain costs and will license shows and movies from third parties.

It was previously reported that Disney CEO Bob Iger said his company would begin laying off employees.

Disney has lost its status as the most profitable company
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Source: korrespondent

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