EMERYVILLE — Pixar Animation Studios has decided to chop well over 100 jobs on the “Toy Story” developers’ East Bay headquarters, a grim reminder of the entertainment industry’s shaky state.
In one other blow to the tech industry, the animation studio has announced plans to chop 181 jobs in Emeryville, in keeping with an official notice Pixar sent to the state's unemployment agency.
Pixar, a subsidiary of Walt Disney Co., said in a WARN notice filed with the state Department of Labor that the layoffs would take effect on July 26 of this yr.
For greater than a yr, Burbank-based Disney Corporation has been alerting Wall Street to its plans for enormous cost-cutting. In November 2023, Disney announced its latest plans, which call for savings of every kind totaling $7.5 billion.
According to a post on the EDD website, Emeryville-based Pixar described the layoffs as “permanent.”
Since 2022, technology firms have been cutting jobs to shift their resources to promising latest areas akin to artificial intelligence and to reverse overstaffing within the tech industry throughout the coronavirus outbreak, when distant work was widespread.
The layoffs at Pixar may be related to other problems, akin to the inconsistent box office ends in Hollywood, which have led to lower than stellar attendance at movies.
image credit : www.mercurynews.com