Pixar, the animation studio that created Up is laying off about 14% of its employees

Pixar, the animation studio that produced Toy Story and Onward and Upward, has begun laying off about 14% of its employees. This was reported by Reuters.

According to informed sources, the studio is resorting to such measures as it reduces the development of original streaming series. The job cuts at the Walt Disney Co. unit will affect about 175 people.

The animation studio has hired additional staff to create original series as former Disney CEO Bob Chapek pushed each creative division of the company to create exclusive content for Disney+.

His successor, Bob Iger, has cut spending on original streaming content to bring Disney+ to profitability. The company’s entertainment division, which includes the Disney+ and Hulu streaming services, posted an operating profit last quarter.

Pixar will return exclusively to full-length films that will be shown in theaters before they become available for viewing at home through Disney+. The only original series, Win or Lose, will appear this year on Disney+.