Jan 12, 2024 11:12:00

It turns out that Pixar plans to reduce personnel in 2024, and the amount of content production will also decrease

It has been revealed that

Pixar Animation Studios, an animation studio affiliated with the Walt Disney Company, plans to reduce its workforce in 2024. The amount of content produced is also expected to decrease.

As Disney pushes towards streaming profitability, Pixar to undergo layoffs in 2024 | TechCrunch
https://techcrunch.com/2024/01/11/as-disney-pushes-towards-streaming-profitability-pixar-to-undergo-layoffs-in-2024/

Pixar is the studio that produced works such as ``Finding Nemo'', ``Monsters Inc.'', and ``Toy Story'', and ``My Element'', which was released in 2023, made 500 million dollars (approximately 72.7 billion yen) worldwide. , making it the most-watched movie on the streaming service Disney+ in the fourth quarter of 2023.

On the other hand, the Walt Disney Company, Pixar's parent company, is suffering from deficits with Disney+, and is trying to significantly improve efficiency through reorganization. Pixar's layoffs are part of Disney's cost-cutting measures, and Disney CEO Bob Iger said in a financial results announcement that Disney+ will be profitable by the fourth quarter of 2024. Disney+ will add 7 million new subscribers in the fourth quarter of 2023, bringing the total number of subscribers to 150.2 million, and the loss of $1.5 billion (approximately 218 billion yen) in the fourth quarter of 2022 will increase in 2023. In the fourth quarter, it decreased to $387 million (approximately 56.2 billion yen).

Staffing and production schedules for Pixar's future films are still under consideration, so the layoffs are expected to occur in the second half of 2024. The number of people affected is said to be up to 20%, with the number of employees ranging from about 1,300 to about 1,000. It also applies to people hired to create content for Disney+. Due to staff reductions, Pixar plans to reduce the amount of content it will produce in the future.