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Disney’s Pixar to cut 14% of workforce as it scales back original streaming content
Approximately 175 people to be affected by layoffs as CEO Bob Iger returns studio’s focus exclusively to feature films
The animation studio had hired additional staff to create original series as the former Disney CEO Bob Chapek pushed each of the company’s creative units to produce exclusive content for Disney+. Chapek’s successor, Bob Iger, has scaled back spending on original streaming content to lift Disney+ to profitability. The company’s entertainment division, which includes the Disney+ and Hulu streaming services, reported an operating profit in the most recent quarter.
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