Disney, What Were You Thinking?! 7,000 Employees To Lose Jobs

It looks like the House of Mouse is steppin’ on some pretty tiny toes with news that they plan to axe their Metaverse Arm, with a reported 7,000 employees to lose their jobs in the process. Yeesh.

What Even Is the Metaverse Arm?

Good question! The Metaverse Arm is the division of Disney that looked to create immersive experiences that span gaming, content, commerce, and more. Basically, they were trying to build the Disney-equivalent of the Metaverse, where people could go and experience a world where Disney characters, storyworlds, theme parks, merchandise and more were all interconnected.

So What’s Causing the Axing?

Well, from what we can tell, Disney may have bitten off a little more than they could chew, with rumours swarming that the costs involved in this project were not reflective of the potential revenues that could be made from it (as is unfortunately common in the world of tech!). Some industry analysts are saying that Disney just didn’t have the expertise to make this idea a reality.

Ouch, Disney.

Unfortunately, this is all leading to 7,000 people out of work. Those jobs that have been lost include a range of positions such as software engineers, game developers, artists and more. It’s definitely sad to hear and it’s hard to not take it personally when you hear that a company as recognizable as Disney can make a mistake of this monumental scale.

Any Good News?

Yes! It appears that Disney has offered those laid off a generous severance package, including extended health benefits and continued payments. Plus, with the range of talent laid off from their Metaverse Arm, chances are pretty good that they’ll be jumping into another role soon. With a list of roles that covers such a broad range, there’s sure to be a spot ready and waiting for them.

So while it’s sad to hear that so many people have lost their jobs, just remember that there is a light at the end of the tunnel!

Final Thoughts

Looking back, it will be interesting to see what Disney learns from their Metaverse misstep. Who knows, they may come back better, stronger and more ready to take over the world (they already kind of are, if we’re being honest).

In the mean time, let’s raise a glass to the seven thousand and wish them the very best on their new job search.

Cheers!