.jpg)
Disney has today confirmed that they will cut 7,000 jobs to reduce the company's operating costs over the next two months.
Reports also seem to have confirmed that Disney will liquidate the company's Metaverse division as part of this operation. This Metaverse division consists of workers who are supposed to develop a new generation of storytelling using the concept of metaverse and virtual reality to introduce storytelling and enjoy new content.
According to a Wall Street Journal report, this section of Metaverse consists of 50 individuals headed by Mike White. All 50 of these individuals will apparently be out of a job anytime soon, but Mike White will reportedly still be retained by Disney.
As reported, Disney will reportedly lay off up to 7,000 workers by this summer, and it appears that the company will want to cut operating costs by up to $5 billion during that time.