Shulou(Shulou.com)11/24 Report--

CTOnews.com, March 28 (Xinhua)-- as part of a broader restructuring plan, the Walt Disney Company has withdrawn its small division of the meta-universe strategy, and about 50 members of the team have lost their jobs, according to the Wall Street Journal.

The department is headed by Mike White, a former Disney consumer goods executive, and White remains at the company, but his new role is unclear, these people said. White could not be reached for comment.

Meta-universe refers to a future version of the Internet that combines the physical world with the digital world and the virtual world. It is called meta-universe or Web3 by futurists, technology executives and investors. Bob Chapek, Disney's chief executive, told CNBC in February that he was interested in meta-universe, calling it "the third dimension of the creative canvas". "[I] will take advantage of all the advantages we have as a media company and use Disney + as a platform to enter the meta-universe," he said. "but at the same time, we have something that others don't have, and that is the physical world, our theme park. So, if meta-universe means combining physics and numbers in one environment, who can do better than Disney?"

According to CTOnews.com, Disney's restructuring plan is expected to cut about 7000 jobs in the next two months.

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