Disney was exploring how to enter its metaverse world with its Next-Gen Storytelling and Consumer Experiences division. However, according to recent reports, the company has eliminated this division. Here are the details…
Disney lays off its metaverse team!
Disney’s team of about 50 employees was researching how to use the company’s existing intellectual property in the area that former CEO Bob Chapek called the “next great storytelling frontier.” But things did not go as planned.
Rumors about layoffs began shortly after Bob Iger replaced Bob Chapek as Disney CEO in November. The team was reportedly the first part of the planned three-part layoff process at Disney. A total of 7,000 employees are expected to be laid off throughout the company, resulting in approximately $5.5 billion in cost savings.
During this process, Disney announced Facebook’s name change to “Meta” in February 2022 to its employees, followed by its “metaverse” goals four months later. At the time, CEO Bob Chapek made a statement when he appointed Mike White to lead the Next-Gen Storytelling division.
White does not appear to have been laid off and has been working at Disney for over a decade. His LinkedIn profile currently states that he works in Disney’s Interactive Video Games division.
In a reminder post last year, Chapek said:
“For nearly 100 years, our company has defined and redefined entertainment by using technology to bring stories to life in deeper and more impactful ways. Today, we have the opportunity to create an entirely new paradigm, bringing these universes together and completely redefining how audiences experience and interact with our stories… The so-called metaverse.”
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