Pixar Animation Studio is an American CGI film production company and a subsidiary of The Walt Disney Studios. It was founded in 1986 and is headquartered in Emeryville, California. Some of the films produced by the company are Toy Story, The Incredibles, and Monsters, Inc.
According to reports, Pixar has announced plans to lay off 14% of its workforce, which amounts to about 175 employees as part of a restructuring initiative.
This restructuring is aimed at focusing on the quality of its content, not the quantity. As a result of this, Pixar is shifting its focus back to releasing movies in theaters and stepping away from creating short-form series for Disney+.
