Disney expects to cut 7,000 jobs, including abolition of metaverse department

Disney has embarked on its first round of layoffs, expected to cut 7,000 jobs, a key part of a $5.5 billion cost-cutting plan it announced in February, the Wall Street Journal reported. The first batch of employees will be notified of layoffs within the next four days. A second round of larger layoffs will take place in April and will affect thousands of employees. Part of the layoff plan is to eliminate the metaverse department. All 50 members lost their jobs.