The Star Wars father, who desired to pursue passion projects and follow his heart, faced the tough choice of selling his multi-billion-dollar company, Lucasfilm, for the sake of the thousands of employees working there. Consequently, Disney acquired the company and assumed control, initiating a nightmarish scenario. The industry giant laid off a significant number of people from the company and eventually betrayed his trust.
Disney Betrayed George Lucas After Acquiring His Company, Lucasfilm
Following the acquisition of the George Lucas company for about $ 4 billion Disney made a significant cut at LucasArts back in the day by shutting down its game studio, ending Star Wars 1313 production, and transitioning to a licensing model. This move was followed by layoffs at Lucasfilm Animation and Industrial Light & Magic’s technology department as well.
Although reports suggested around 150 layoffs, insiders hint the actual number is likely higher, not factoring in Singapore or ILM workers. Lucasfilm never disclosed the layoff size.
When considering the Singaporean workforce, Lucasfilm’s departure from Singapore which was a component of Disney’s comprehensive restructuring strategy, impacted over 300 individuals through the closure. All to reduce expenses and achieve profitability in its streaming business.
Why Did George Lucas Sell His Company in the First Place?
Having spent an extensive period in the film industry and delivering numerous blockbusters throughout his career, filmmaker George Lucas desired a well-deserved break to spend time with his family and pursue personal passion projects.
Despite the temptation to shift his focus from the multi-billion-dollar company he built, he recognized the potential harm it could cause to the company and the many employees relying on him for their livelihoods. Consequently, he chose to step down from his position, opting to prioritize the stability of the company and the well-being of its workforce. Thus decided to sell his company and use that money to build what his heart desired.
