Mass layoffs hit Disney, animation movie giant being gutted again

Key Points:

• The Walt Disney Company announced several hundred layoffs across multiple divisions, including Disney Entertainment Television, ESPN, corporate teams, and Disney Studios, marking its third round of cuts this year.
• Pixar’s Emeryville animation studio was significantly affected, with approximately 116 employees laid off, primarily in production and operations, reflecting the studio’s current project slate rather than any single film’s performance.
• These cuts come despite the strong box office debut of "Toy Story 5," which earned an estimated $312 million worldwide during its opening weekend, although some recent Pixar originals like "Elio" and "Hoppers" underperformed commercially.
• Disney has been reducing its workforce throughout 2024, including earlier layoffs at Pixar and broader cuts across marketing, television, ESPN, and corporate teams, as part of a strategic shift toward theatrical releases and a more agile company structure.
• Despite the layoffs, Pixar’s upcoming projects include the original feature "Gatto" and "Incredibles 3," indicating ongoing investment in high-profile films.