Pixar Canada's Vancouver studio is shutting its doors, eliminating about 100 jobs, Variety is reporting.
"The team at Pixar Canada is incredibly talented and we are so proud of the excellent work we have produced there," Pixar said in a statement released to Variety.
The statement continued, "However, as we look at the creative and business needs of our studio, we've made the decision to refocus our efforts and resources under one roof in Emeryville and will be closing the studio in Vancouver," referring to its headquarters in Emeryville, California.
Pixar opened its Vancouver location in 2010, just prior to launching its blockbuster Toy Story 3. This was the animation company's first studio outside of California.
As of press time, shares in Walt Disney Co. (NYSE:DIS), which acquired Pixar in 2006 for approximately $7.4 billion, were trading at $63.82, a dip of 0.29%.
