Disney Shuts Down Metaverse Unit as Part of First Wave of Layoffs

As part of a companywide cost-cutting effort, Disney has axed its cross-divisional Next Generation Storytelling & Consumer Experiences group, which encompassed the Mouse House’s metaverse…

has axed its cross-divisional Next Generation Storytelling & Consumer Experiences group, which encompassed the Mouse House’s metaverse ambitions.

The elimination of Disney’s Next Generation Storytelling & Consumer Experiences group, led by company veteran Mike White, affects about 50 employees,The shutdown of Disney’s metaverse group came Monday as part of the first wave of the company’s move to . Following this week’s layoffs, there will be a larger second round of cuts next month, Iger told employees in a memo Monday. a final round will hit “before the beginning of summer.”appointed White to a new role coordinating the Mouse House’s “metaverse” efforts going forward

. White, who has worked at Disney for more than a decade, was tasked with connecting the dots among the company’s initiatives that blend “physical and digital worlds,” Chapek wrote in a memo to staff at the time. Disney also had

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