Disney eliminates metaverse unit, cutting 50 jobs, WSJ reports

Disney (DIS) has eliminated its metaverse unit, cutting roughly 50 jobs, and has ceased work on an Amazon Prime (AMZN)-like program integrating Disney+ and other Disney platforms, The Wall Street Journal’s Robbie Whelan and Joe Flint report, citing people familiar with the situation. Metaverse unit head Mike White remains at the company, though it is unclear what his new role will be, the people say. Disney’s restructuring is expected to reduce its headcount by around 7,000 over the next two months companywide. Reference Link