The cuts are part of Disney CEO Bob Iger's overarching mandate to focus on quality content, not quantity.Long-expected layoffs are hitting Pixar Animation Studios today.told CNBC. The cuts come as CEO Bob Iger works toward his overarching mandate to focus on quality content, not quantity.Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules.
Iger, who returned to the mantle of CEO in late 2022, has been working to reverse the company's box office woes, spurred both by the company's content decisions and pandemic shutdowns. While Disney has seen mixed box office success with a number of franchises, including the Marvel Cinematic Universe, its has faced a challenge getting its animated features to resonate with audiences.
, not theaters, even when Disney opted to return its films to the big screen. Compounding Disney's woes, many audiences members started to feel the company's content had grown overly existential and too concerned with social issues beyond the reach of children.As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019.
With Iger back at the helm, Pixar will refocus on theatrical releases and move away from short-form series for Disney+.
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