Disney CEO axes metaverse unit and almost everyone in it, with another 6,950 cuts to go

Disney is exiting the metaverse, at least for now. The Wall Street Journal (opens in new tab) reports that the House of Mouse has completely axed its “next-generation storytelling and customer experiences unit,” the blandly-titled division of its business responsible for its metaverse strategies.

The unit’s head, Mike White, gets to stay at Disney, but the 50-or-so staff members under him haven’t been so lucky. All of them will have to find new jobs. Those are some heavy cuts, but they’re just the first wave of Disney CEO Bob Iger’s longer-term restructuring plan.

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