THE WALL STREET JOURNAL reports that Walt Disney “has eliminated its next-generation storytelling and consumer-experiences unit, the small division that was developing metaverse strategies”.

That is part of a broader restructuring that is expected to reduce head count by around 7,000 across the group over the next two months, WSJ added.

“Headed by Mike White, a former Disney consumer-products executive, the division was tasked with finding ways to tell interactive stories in new technological formats using Disney’s extensive library of intellectual property,” according to WSJ sources. “All of the team’s roughly 50 members have lost their jobs, the people said. Mr. White remains at the company, although what his new role will be is unclear.”

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