Latest Round Of Disney Layoffs Targeted Executives Involved With 'Lightyear'
Image Source: IGN Brasil
The entertainment has suffered another loss among its executives. The ongoing trend of big companies promoting (sometimes) mass layoffs came to stay this time. This new market “fever”, which now can be considered a new set of strategies implemented by big tech and other similar places, caused another wave of job cuts.
This time it was time for the executives behind one of Pixar’s latest movies - Lightyear. Animation veteran Angus McLane, who according to Reuters has 26 years of experience in the sector, was accompanied by fellow long-time employee and producer Galyn Susman. According to the same article, it was not just people closely involved with the production. Michael Agulnek, the vice president of worldwide publicity, was also laid off.
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An important cut beside the two previously mentioned happened in February. Jeremy Doing, who acted as Chief Technology Officer (CTO) at Disney was the victim at the start of 2023. These cuts were part of a larger group of people targeted as part of this “renewal” process. Disney’s current plans are to fire 7.000 jobs and create a bigger profit share for investors and holders. This was elaborated by Bob Iger in his return, and it is likely to generate more headlines in the near future.
Another important explanation behind the firing is the content in Lightyear. The animated movie shows same-sex relationships, something prohibited by the law and marginalized in several Asian/Middle-Eastern countries. As Disney invests in upcoming sources of revenue like the LGBT+ market, this may cause some reaction among more conservative sectors inside the U.S. and in other countries.
Nonetheless, these cuts and layoffs mirror what occurred in 2013. After postponing The Good Dinosaur, 30 positions were vacated at Pixar. While The Good Dinosaur was able to make around US$ 332 million with a budget of between US$ 175 - 200 million, Lightyear, the movie that had McLane and Susman behind, only made US$ 226 million with costs in the ballpark of US$ 200 million. In comparison, Reuters points out, The Incredibles 2 had a box office of US$ 1.2 billion in 2018.
If the current trend continues, these are not going to be the only firings. CEOs are trying to maximize their profits while they protect the people behind their extremely high salaries.
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Sources: Box Office Mojo, Reuters, IMDB
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