Walt Disney’s Pixar Animation cuts 75 jobs By Reuters

© Reuters. FILE PHOTO: A screen displays 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 Pixar Animation Studios has cut 75 positions, including those of two executives responsible for the “Lightyear” box office disappointment, sources said Saturday, the first major job cuts at the studio in a decade.

The cuts included “Lightyear” director Angus MacLane, a 26-year-old animator who was on the senior creative team on acclaimed movies like “Toy Story 4” and “Coco.” “Lightyear” producer Galyn Susman also left. Susman had been with 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 on May 23, are part of a previously announced plan by Walt Disney Chief Executive (NYSE, Bob Iger) to cut 7,000 jobs and cut costs by $5.5 billion. This restructuring combined the film and television groups into a single Disney Entertainment unit and eliminated a division responsible for distribution.

The layoffs at Pixar are significant because the studio is a creative force driving franchises and characters that drive revenue through Disney.

Pixar is famous for its movie franchises such as “Toy Story”, “The Incredibles” and “Cars”. But “Lightyear,” released a year ago with a reported budget of $200 million, grossed a modest $226.7 million in worldwide ticket sales and received mixed critical reception.

“Lightyear” could not be shown in 14 countries in the Middle East and Asia due to its depiction of a same-sex relationship. This had an impact on its box office performance.

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