Disney Cuts The Metaverse Division

metaverse division

Disney’s former CEO, Bob Chapek, brought on last year a goal to create an entirely new experience for the audience. According to internal sources, Metaverse was the next great storytelling frontier. And perfect for our strategic pillars of storytelling excellence, innovation, and audience focus.

The hiring of White and the creation of the new metaverse unit came a few months after Facebook rebranded to Meta to identify with the futuristic technology. Iger took over from Chappek in November. He seems to be bullish on the metaverse, despite recent developments.

The Walt Disney Co.  The company has axed its metaverse division with staff cuts to reduce the headcount by around 7,000 across the company over the next two months. CEO Bob Iger said Monday that these layoffs would begin this week. In addition to the Disney, we all know and love, there are plenty of Pixar, Marvel, and Star Wars movies and shows on its slate.

All 50 or so members of the metaverse team have lost their jobs. White will remain with the company.

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