Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Showbiz

Showing Original Post only (View all)

sl8

(16,284 posts)
Thu Mar 30, 2023, 09:11 AM Mar 2023

Disney Shuts Down Metaverse Unit as Part of First Wave of Layoffs [View all]

https://variety.com/2023/digital/news/disney-shuts-down-metaverse-unit-layoffs-1235566501/

Disney Shuts Down Metaverse Unit as Part of First Wave of Layoffs

By Todd Spangler
Mar 28, 2023 7:03am PT

As part of a companywide cost-cutting effort, Disney has axed its cross-divisional Next Generation Storytelling & Consumer Experiences group, which encompassed the Mouse House’s metaverse ambitions.

The elimination of Disney’s Next Generation Storytelling & Consumer Experiences group, led by company veteran Mike White, affects about 50 employees, Variety confirmed. The news was first reported by the Wall Street Journal. A Disney rep declined to comment.

The shutdown of Disney’s metaverse group came Monday with the first wave of the company’s move to slash 7,000 jobs under interim CEO Bob Iger, which is part of its attempt to reduce $5.5 billion in costs. Following this week’s layoffs, there will be a larger second round of cuts next month, Iger told employees in a memo Monday. A final round of layoffs will hit “before the beginning of summer,” according to Iger.

In early 2022, then-CEO Bob Chapek appointed White to a new role coordinating the company’s metaverse efforts. As senior VP of the division, White, who has worked at Disney for more than a decade, was tasked with developing company initiatives that combined “physical and digital worlds,” Chapek wrote in a memo to staff at the time. Disney also had hired Mark Bozon, a top Apple gaming executive, as a senior creative leader for the Next Generation Storytelling & Consumer Experiences team.

[...]

4 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Latest Discussions»Culture Forums»Showbiz»Disney Shuts Down Metaver...»Reply #0