Okay, that's admittedly a bit of an exaggeration but not completely. You remember the story of how Toy Story 2 nearly didn't get made? Somebody fucked up and accidentally deleted the files related to the film when they were about halfway through making the movie and it was only because one employee happened to have a copy of them at home that they were able to recover the movie. Said employee was just laid-off. (bolding mine)
They fired Alan Ladd after he brought Fox Star Wars, and they fired Bob Shaye from New Line, even though he created the company, and his latest greatest acquisition was Lord Of The motherfuckin' Rings. Corporate America is infested with miserable ingrates.
1.) Disney has had a lot of duds at the box office and they are losing tons of money on their streaming service. Cuts were inevitable as corporations don't have the ability to live in forever debt like government does. 2.) The loyalty towards Pixar employees from the 90s died when Disney acquired it in 2006. Not saying it's right, but this IS Disney we're talking about here. Sure, they'll virtue signal all day long, but when it comes to paying a fair wage and taking care of their employees ie: things that actually matter, forget it.
