Disney disbands entire metaverse team – 50 staff jobs cut

Metaverse dreams at the House of Mickey Mouse have been put on hold after Disney laid off its 50-person metaverse team as part of a broader job cut.

According to a March 27 Wall Street Journal report, Disney’s effort to streamline its business will affect its metaverse unit. The company is in the middle of laying off 7,000 staff as it attempts to reduce costs.