Layoffs Hit Disney's "Metaverse Division"

Layoffs Hit Disney's "Metaverse Division"

Disney has reportedly laid off its metaverse team, as part of a broader round of layoffs at the company, according to a report by the Wall Street Journal.

🔎The Deets

  • Around 50 employees on the metaverse team were laid off, and the company reportedly laid off around 7,000 employees total across departments.
  • Disney CEO Bob Iger called the move part of an effort to create a more "streamlined" business.
  • The company had begun its metaverse efforts in mid-2022, choosing Polygon as its blockchain of choice.
  • Mike White, who had previously been tasked with leading Disney's metaverse efforts, will remain with the company, though his new role is currently unclear.

🎤 Community Quote

You don't need to build your own metaverse when your (sic) already building one with VeVe@bgardner9969


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