The pink slips are starting to trickle down at Walt Disney (NYSE: DIS) this week. The Wall Street Journal is reporting that the company has disbanded its metaverse strategies unit, a roughly 50-person task force tackling next-gen storytelling and consumer experiences. 

The layoffs won't end there. Disney is expected to eliminate around 7,000 positions in the next couple of months. Job cuts are unfortunate, but this move doesn't come as a surprise.

Many of the country's most valuable companies have been trimming their head count over the past year, responding to rising costs and investors punishing stocks that lack fiscal responsibility. It's Disney's turn to deliver bad news, but it's not something that shareholders need to worry about for now.

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Source Fool.com