Disney's Pixar Trims Workforce By 75: Is Lightyear's Box Office Disappointment To Blame?
Portfolio Pulse from Franca Quarneti
Disney's Pixar Animation Studios has laid off 75 employees, including the director and producer of 'Lightyear', as part of a broader cost-cutting initiative led by Disney CEO Bob Iger. The plan aims to eliminate 7,000 jobs and reduce costs by $5.5 billion. The underperformance of 'Lightyear' at the box office may also be a factor in the layoffs.
June 05, 2023 | 8:25 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Disney's Pixar Animation Studios has laid off 75 employees as part of a cost-cutting initiative, which may be influenced by the underperformance of 'Lightyear' at the box office.
The layoffs at Pixar, a subsidiary of Disney, are part of a broader cost-cutting initiative led by Disney CEO Bob Iger. The underperformance of 'Lightyear' at the box office may also be a factor in the layoffs, which could negatively impact Disney's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100