Pixar to "Significant" Layoffs in 2024 - Report

On the same day that Elemental was nominated for six Annie Awards, Techcrunch reported that Disney-owned Pixar will cut a "significant" number of jobs in 2024.

Sources told Techcrunch that the layoffs could amount to as many as 20% of the studio's 1,300 employees.

Emeryville, California-based Pixar confirmed Techcrunch's report that layoffs would take place at some point, but disputed the publication's figures. A Reuters article this evening quoted a "source familiar with the situation" as saying that it has not yet been determined how many people will be laid off and that it is not known when they will be laid off. This Reuters source, who appears to be a spokesperson for the studio, also stated that the layoffs would not affect Pixar's theatrical releases.

Pixar did not immediately respond to an email from Cartoon Brew seeking more information. However, information obtained by Cartoon Brew indicates that Pixar intends to keep more than 1,000 employees and that the layoffs will not amount to 20% of the studio.

The undisputed point in both the Techcrunch and Reuters articles is that the layoffs are primarily due to excess personnel hired by Pixar to work on Disney+ streaming projects such as the upcoming Win or Lose. These projects are now out of production, and Disney CEO Bob Iger is scaling back his investment in streaming until the streaming is profitable, which he is "confident" will happen by the end of 2024.

Last spring, Pixar laid off 75 employees, the largest layoff in a decade. Today's news confirms that the studio's workforce reduction efforts are not over and that there will be more pain in 2024.

Disney will release Pixar's next theatrical feature film, Inside Out 2, on June 14.