Bob Chapek

Disney Terminates Entire Metaverse Division

Now you see it, now you don’t. Disney is eliminating its entire metaverse division as part of the impending mass layoffs destined to impact as many as 7,000 employees, a report Monday claims.

The Associated Press

Tragic Kingdom: Experts Predict Dark Days Ahead at Disney for Bob Iger, Major Cuts as Streaming Loses Billions

The Walt Disney Co. is hoping that returning CEO Bob Iger will wave his magic wand like Cinderella’s fairy godmother and make everything better following Bob Chapek’s calamitous tenure. But analysts are predicting the task won’t be so easy, saying Iger will need to slash spending and restore profitability in two years’ time — a feat of sorcery that the Disney veteran may not be able to pull off.

NEW YORK, NY - OCTOBER 24: Bob Iger, chairman and chief executive officer of The Walt Disney Company, pauses while speaking during an Economic Club of New York event in Midtown Manhattan on October 24, 2019 in New York City. Earlier this year, Iger announced that he will step down …

Disney Employee Morale ‘Terrible’ Following Executive Firing

The Walt Disney Co. has seen its stock take yet another beating, dropping nearly 6 percent since Thursday’s surprising executive shake up that saw CEO Bob Chapek fire his presumed successor, Peter Rice, who served as Disney’s chairman of entertainment and programming.

ANAHEIM, CA - MARCH 12: A Disneyland employee walks through the entrance to Disneyland amid rain showers in Anaheim, Calif., on March 12, 2020. Disneyland will temporary close the Disneyland Resort in Anaheim in response to the expanding threat posed by the Coronavirus Pandemic. The closure takes effect Saturday and …