Big Tech was first but now is music on the cusp of big layoffs as well? Warner draws attention for big staff cuts and even bigger budget cuts. They say it's for restructuring for the long term but could Warner be the first of many?Also, Disney announces cuts of its metaverse division. Not even Mickey Mouse can get people to try the metaverse…. This and more on the Biztape!

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Sources:

Warner’s Big Budget Cuts:

https://www.musicbusinessworldwide.com/warner-will-generate-savings-of-50m-annually-by-cutting-4-of-staff/

Disney Step Away from MetaVerse:

https://www.musicbusinessworldwide.com/disney-shuts-down-metaverse-division-amid-restructuring-report/