Pixar Laying Off 5 Percent of Headquarters Staff

Pixar's "Toy Story 3"

The reduction follows the production delay for Disney division's next CGI movie, "The Good Dinosaur," now slated to premiere in 2015.

In the wake of The Good Dinosaur's director loss and release delay, Pixar Animation Studios has instituted a round of layoffs at its headquarters in Emeryville, California, a source at the Walt Disney Company has confirmed.

About 5 percent of the company's approximately 1,200 employees are expected to lose their jobs. That means roughly 60 staffers will be let go.

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"At Pixar, we are constantly re-evaluating the creative and business needs of our studio," a Pixar spokesperson said in a statement. "With the release date change of The Good Dinosaur, we have realigned our production and support priorities, which includes a small reduction in our staffing levels."

Originally The Good Dinosaur was expected to hit theaters in May 2014. When the premiere was pushed to Nov. 25, 2015, Pixar also triggered a change of directors, with Bob Peterson exiting the project.

The Good Dinosaur will be directed or co-directed by Peter Sohn. The production design will be helmed by Daniel Lopez Munoz, and the film's score will be written by Thomas Newman.

The voice cast is expected to include Neil Patrick Harris, Frances McDormand and John Lithgow. The producers are Denise Ream and John Lasseter.

The premise of The Good Dinosaur is that asteroids never hit Earth, so the great beasts and human beings have learned to live together. The studio has said the movie "is a humorous and exciting original story about Arlo, a lively 70-foot-tall teenage Apatosaurus with a big heart. After a traumatic event rattles Arlo's tranquil community, he sets out on a quest to restore peace, gaining an unlikely companion along the way -- a young human boy named Spot."

This follows the layoff of about 80 people at Vancouver Studios, which was closed in October. News of the latest round of layoffs was first reported by The Los Angeles Times.