Disney is axing its fledgling Metaverse division as part of a round of layoffs of 7,000 employees
How long before the house of mouse decides the metaverse isn’t worth it? Apparently a year or so that Disney has given pink slips to 7,000 employees, including the 50 employees hired for its Metaverse division.
The so-called “Next Generation Storytelling and Consumer Experiences Team” was formed last November with the task of “creating applications in fantasy sports, theme park attractions and other consumer experiences” — or in other words, trying to give shape to the nebulous metaverse idea. The team was led by longtime Disney executive Mike White, who will be reassigned to a different position within the company while regular employees are downsized.
The 7,000 job cut is part of Disney’s broader plan to cut costs as the company’s profits took a big slump in the first quarter. Meanwhile, Disney will now apparently shift its focus to developing emotionally intelligent AI robots for its theme parks. Sure, why not.
https://massivelyop.com/2023/03/29/disney-axes-its-fledgling-metaverse-division-as-part-of-a-7000-employee-layoff-round/ Disney is axing its fledgling Metaverse division as part of a round of layoffs of 7,000 employees