Pixar's Layoffs Came Days After Receiving a $26M Tax Credit
a day ago
- Pixar received a $26.2 million California tax credit, then laid off 116 employees shortly after.
- The author wrote to Governor Newsom and state officials, arguing the tax credit program should create and retain jobs, not subsidize layoffs.
- The author calls for stronger oversight, including clawback provisions if workforce declines after receiving tax incentives.
- Pixar is not a struggling studio; its latest film 'Toy Story 5' grossed over $1 billion, and parent Disney has $94 billion in revenue.
- Pixar had already conducted layoffs in 2023 and 2024, indicating a pattern of workforce reduction despite state subsidies.