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Excerpt from fortune.com
Walt Disney Co.’s Pixar subsidiary, the pioneering animator that made Toy Story and Finding Nemo, is cutting 14% of its staff, part of an ongoing belt tightening by its parent.
About 175 employees are getting layoff notices Tuesday, the company said.
The reductions reflect a decision to refocus Pixar on feature films and move away from the production of TV series for the Disney+ streaming service. Pixar President Jim Morris outlined the shift in a memo to employees that was seen by Bloomberg.
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