The Walt Disney Company (Disney), one of the largest media companies in the world, decided to close its metaverse section in the middle of the economic contraction and laid off 50 staff.
Disney’s metaverse division has not escaped the grip of macroeconomic problems. In the news presented by The Wall Street Journal (WSJ), the world-famous company that you closed the metaverse section And laid off 50 employees place was given.
Disney’s metaverse division, founded in February 2022, in total Covering the layoffs of 7,000 people It was discarded as part of a large-scale contraction process. The source of the news was based on experts.
According to the news, the decision to stop these Web3-focused operations is to create cost-cutting options. McKinsey & Company came after consultation with Disney’s senior manager Bob Chapek In his recent statements, he described the metaverse universe as a new area with a very high investment opportunity. Chapek had the following sentences at the time:
Metaverse is very important to us because we continue to increase the types of people we attract to The Walt Disney Company over time to reflect our aggressive and ambitious technology agenda.