Investing
Exclusive-Walt Disney’s Pixar Animation eliminates 75 positions
© Reuters. FILE PHOTO: A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid
By Dawn Chmielewski
(Reuters) -Walt Disney ‘s Pixar Animation Studios has eliminated 75 positions including those of two executives behind box office disappointment “Lightyear,” sources said on Saturday, the first significant job cuts at the studio in a decade.
The cuts included “Lightyear” director Angus MacLane, a 26-year animator who was part of the senior creative team on such acclaimed films as “Toy Story 4” and “Coco.” Galyn Susman, producer of “Lightyear,” also departed. Susman had been at Pixar since the release of the original “Toy Story” movie in 1995.
MacLane and Susman could not be reached for comment.
The cuts, which took place May 23, are part of Walt Disney (NYSE:) Chief Executive Bob Iger’s previously announced plan to eliminate 7,000 jobs and slash $5.5 billion in costs. That restructuring combined the film and television groups into a single Disney Entertainment unit and eliminated a division charged with distribution.
The layoffs at Pixar are significant because the studio is a creative force generating franchises and characters that drive revenue across Disney.
Pixar is famous for cinematic franchises including “Toy Story,” “The Incredibles” and “Cars.” But “Lightyear,” released a year ago with a reported budget of $200 million, brought in a modest $226.7 million in worldwide ticket sales and received a mixed critical reception.
“Lightyear” could not be shown in 14 Middle Eastern and Asian countries because of its depiction of a same-sex relationship. This had an impact on its box office performance.
Read the full article here
-
Side Hustles5 days ago
United Airlines Adding Starlink, Free WiFi to All Flights
-
Passive Income4 days ago
Reduce Your Business Expenses With This $30 Microsoft Office Alternative
-
Passive Income6 days ago
Correct Your Spelling Errors on PDFs With This All-in-One PDF Tool
-
Side Hustles6 days ago
There’s a Burnout Crisis in American Workplaces — and This Is the Solution
-
Personal Finance5 days ago
Inflation hits 2.5% in August, keeping the Fed on track to lower interest rates
-
Passive Income3 days ago
Sam’s Club Membership Went Down to Just $15 for a Year
-
Side Hustles4 days ago
How to Create and Maintain a Positive and Respectful Work Environment
-
Investing5 days ago
Professionals Can Securely Organize Their Files With This Cloud Storage Solution