Disney Metaverse Unit on the Verge of Shutdown


As a part of the company’s broader plan to lay off, Disney Metaverse is on its way to shutting down. Disney has decided to let go of its Metaverse unit through a companywide cost-cutting effort.

Ex-Disney CEO Bob Chapek planned this Metaverse project, including the Metaverse game. He was enthusiastic about this new venture and called it “the next great storytelling frontier.” However, when Bob Iger replaced him in the office, he immediately reversed Chapek’s decisions, including Disney Metaverse.

Disney Metaverse
Projecting a metaverse view

However, removing Disney’s Next Generation Storytelling and Consumer Experience Group led to the layoff of 50 potential employees.

This first wave of the cost-cutting plan eliminates 7000 jobs, especially metaverse jobs, reducing $5.5 billion in cost. However, it’s just the beginning, as Iger warned everyone about the upcoming layoff round “before the beginning of summer.”

This dismissal of the Disney team is a death sentence for the Disney Metaverse unit, which is significantly synonym to the demise of Magic Kingdom’s foray. Eventually, this event leaves Disney die-hard fans in a sheer phase of disappointment.

Disney Metaverse
Fireworks at Disney castle

After this harsh decision, many believe that Iger is anti-metaverse, which is not the case. In reality, Iger is a metaverse bull, as he has invested in giant metaverse projects.

Due to the volatile economic conditions, investors are exerting pressure on Disney to manage costs. Following this, Iger took the hard decision to sideline the Metaverse project, shredding fans’ enthusiasm and excitement.

Maheen Fatima
Maheen Fatima
With years of writing exciting news articles, Maheen Fatima has developed a unique and distinctive approach that shines through in her work. Although she is an Ultrasound specialist by profession, her love for writing has dragged her into this diverse field. She is a professional news author using her writing instincts to carve out new possibilities in the field of News Writing. Her passion for creating formidable content has mesmerised the audience. Her versatile ideas from her brain’s neuro signals are effectively translated into potential words. That’s why she’s here to tell you what’s happening around you in an interesting way.

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