Disney Layoffs 2024: What to Know About Potential Pixar Job Cuts

Disney (NYSE: DIS ) layoffs are coming to the happiest place on Earth as the company looks to cut workers from its Pixar animation studio. Disney has confirmed that layoffs are coming to Pixar later in 2024 but hasn’t commented on how many employees will lose their jobs. Insiders claim it could be as many as 20% of the animation studios’ 1,300 workers that get sacked.

Inside sources reported that the Disney layoffs are mostly going to be focused on Pixar employees hired to make content for Disney+. The streaming service still isn’t profitable yet but Disney hopes it will be by Q4 2024. It could be these layoffs are part of its plans to start seeing green from Disney+, TechCrunch notes.

Growing Disney Layoffs News of the Pixar layoffs comes after jobs at Disney were cut last year to reduce costs. That saw some 7,000 employees lose their jobs but only 75 of those affected employees at Pixar . All of this is part of Bob Iger’s plans to wrangle in costs at Disney to deal with a changing audience.

Box office performances haven’t gone as well as the company hoped, which isn’t helped by its streaming service burning through cash without profits. DIS stock is up slightly as of Friday morning. Investors seeking out even more of the most recent stock market stories will want to stick around! We have all of the hottest stock market news worth reading about on Friday! That includes what’s going on with shares of Nio (NYSE: NIO ) stock, Qualcomm (NASDAQ: QCOM ) stock and BlackRock (NYSE: BLK ) stock today.

All of that news is ready to go at the following links! More Stock Market News for Friday NIO Stock Alert: Europe Plans to Investigate Chinese EV Makers Citi Is Pounding the Table on Qualcomm (QCOM) Stock BLK Stock: BlackRock to Buy Global Infrastructure Partners for $12.5 Billion On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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