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.
- 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.
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