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Pixar cuts 116 jobs despite Toy Story 5 nearing $1 billion at box office

Disney has announced a new round of layoffs hitting several hundred employees, with Pixar bearing the brunt at 116 job cuts. The move comes as Pixar celebrates a major commercial hit: Toy Story 5 is closing in on $1 billion at the global box office and is set to become the highest-grossing entry in the franchise in the US. This is Disney's second major round of layoffs this year, following an earlier cut of 1,000 jobs.