Disney Shuts Down Metaverse Division in Major Restructuring Move
Walt Disney is refocusing its priorities and is no longer pursuing Metaverse strategies, according to reports. The entertainment giant is eliminating its entire “next-generation storytelling and consumer experiences” division, which had almost 50 members, as part of its restructuring plan. The head of the Metaverse division, Mike White, has been promoted to SVP of consumer experiences and platforms, but it is unclear in what capacity he will function in the future. Disney’s move comes as the company seeks to make $5.5 billion in cuts and reduce its headcount by nearly 7,000 across the company over the next two months. Reports