The Walt Disney Company has reportedly axed its metaverse division as part of plans to reduce the company’s global headcount by 7,000 over the next few months.
According to the Wall Street Journal, all of the division’s staff have lost their jobs, apart from Mike White who will remain with Disney.
White was appointed as senior VP in charge of next generation storytelling last year.
The WSJ report states plans for the metaverse division were “sketchy”, despite the company previously stating the team would be tasked with innovating and incubating “bold ideas” while working across film, TV, gaming, parks and more.
Disney’s move into the metaverse was driven by former CEO Bob Chapek, who described it as “the next great storytelling frontier”.
Chapek was replaced by Bob Iger last November.
