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Disney Reportedly Cuts Metaverse Division Amid Layoffs

Last August, the Wall Street Journal reported that the Walt Disney Company was reportedly considering the idea of introducing a membership program that would offer discounts and special perks for their streaming services, parks, resorts and merchandise.  Internally, execs were referring to the program as Disney Prime although that was not expected to be the official name of the service.

According to a new report from WSJ, Disney has cut its metaverse division as part of the layoffs that will begin this week.  The division consisted of 50 employees that were led by Mike White, who reportedly will remain at the company.  White’s new role is unknown at this time.

Former CEO Bob Chapek established the unit whose task was “connecting the physical and digital worlds” for Disney entertainment.

The latest layoffs were initially announced in February by Bob Iger and will impact about 7,000 employees including Disney’s media and distribution division, parks and resorts, and ESPN.

Source: Wall Street Journal

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