"That day is here."

Earlier this year, reports suggested that Pixar Animation Studios was gearing up to let go of up to 20% of its staff. Now the day has come. 

The most significant restructuring in the history of Pixar was firstly reported by The Hollywood Reporter. Out of a workforce of approximately 1,300 employees, around 175 will be affected by these layoffs, which equates to a roughly 14% reduction. However, the company's top leadership will remain untouched by this change.

This extensive downsizing follows another round of layoffs that Pixar underwent last June, when it reportedly let go of 75 employees. Among those affected were executives involved with the production of the less-than-successful movie, Lightyear. 

Pixar's president, Jim Morris, had sent a memo to staff on Tuesday, which states: 

"I want to assure you that will be providing extensive support as our colleagues start to transition out of the studio. We are committed to ensuring that their departure is handled with the utmost respect and care at every stage. " 

Check out the report from the Hollywood Reporter here and don't forget to join our 80 Level Talent platform and our Telegram channel, follow us on Instagram, Twitter, and LinkedIn, where we share breakdowns, the latest news, awesome artworks, and more.