The entire “metaverse department” is closed! Disney cuts 7,000 jobs

According to the “Wall Street Journal” citing people familiar with the matter, Walt Disney Company (Walt Disney Company, DIS) has laid off the entire Metaverse department, and almost all employees have been cut off.

Disney Chief Executive Bob Iger sent an internal letter Monday informing employees that the company had begun the “7,000 layoffs” it announced earlier this year to rein in costs and create a more “leaner” business.

The reorganization is expected to be completed within the next two months, the report said. However, the source said that “approximately 50 employees of the Metaverse team have lost their jobs”, leaving only the department head Mike White, but it is unclear where he will be transferred.

Disney established the Metaverse department in February last year. When Bob Chapek announced the 2022 Disney vision to employees, he mentioned that he intends to lead users to Disney’s exclusive Metaverse world through technological revolution, although the company has hinted that Metaverse may be It is used in fantasy sports, theme park attractions and other consumer experiences, but no specific details have been released about the metaverse strategic plan so far.