Disney’s Pixar studio is set to experience significant layoffs in the coming year as part of an effort by the company to “enhance” streaming profitability.
While the exact number of layoffs has yet to be announced, initial reports hinted at a reduction of up to 20 percent.
The move comes after Disney’s CEO, Bob Iger, has reportedly emphasized “Turning streaming into a profitable growth business” as a key goal for 2024.
“Disney had more or less trained audiences to expect big hot Pixar content at home. Retraining the audience to re-embrace the theatrical experience and prioritize that takes time,” Brandon Katz, an entertainment industry strategist at Parrot Analytics, said.