Disney becomes the latest metaverse casualty, scraps its next-generation storytelling unit Disney metaverse economy
- The metaverse continues to claim corporate victims as Disney has become the latest globally recognized brand to shutter its metaverse division as it works to cut costs amid difficult economic times.
Michael White, a former Disney consumer-products executive, was in charge of the division and was tasked with finding ways to tell interactive stories in new technological formats using Disney’s extensive library of intellectual property, sources said. While White will remain at Disney in an unspecified role, the other members of the metaverse unit have lost their jobs.
There is a strong likelihood that the entertainment giant will eventually circle back to the metaverse as the company has patented a “virtual-world simulator,” which aimed to facilitate headset-free augmented reality attractions at Disney theme parks, back in December of 2021. Disney is not alone in nixing its metaverse team as Meta Platforms Inc., the parent of Facebook and Instagram, also shuttered its metaverse unit as part of its efforts to reduce its headcount by 11,000 employees as a cost-cutting measure. All sectors of the company will be affected by the layoffs, including Reality Labs, the unit responsible for developing augmented reality , virtual reality , and prototypes in emerging technologies such as mixed reality and brain-computer interfaces.
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Disney lays off metaverse employees as part of restructuringDisney fired the employees of its metaverse division as part of its $5.5 billion restructuring plan. The division’s head, Mike White, remains employed at the firm. The Walt Disney Company began laying off thousands of employees to cut costs. Among those caught in the layoffs are employees from the division that were working on the […]
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Disney begins first wave of job cuts with goal of eliminating 7,000 positionsWalt Disney has begun what is expected to be 7,000 job cuts, a key part of a US$5.5\u002Dbillion savings drive announced in February. Read more.
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Disney begins first wave of job cuts with goal of eliminating 7,000 positionsWalt Disney has begun what is expected to be 7,000 job cuts, a key part of a US$5.5\u002Dbillion savings drive announced in February. Read more.
Lire la suite »
Disney begins first wave of job cuts with goal of eliminating 7,000 positionsWalt Disney has begun what is expected to be 7,000 job cuts, a key part of a US$5.5\u002Dbillion savings drive announced in February. Read more.
Lire la suite »
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