The CEO is linking the new job cuts to restructuring.
Just four months after laying off 22% of its staff, Dapper Labs is set to lay off another 20% of its remaining staff. According to the letter Sent to the team by Dapper Labs CEO Roham Gharegozlou, the latest decision is in line with the company’s restructuring plans. Part of the letter says:
“We are restructuring the Dapper Labs organization to improve our focus and efficiency, strengthen our position in the marketplace, and better serve our communities.”
Gharegozlou also noted that the notification was only sent to affected employees, meaning those who did not receive any notification were not affected.
Dapper Labs insists layoffs aren’t about finances
In November, when Dapper Labs carried out its first notable round of layoffs, he cited that the company was growing too fast. At the time, Gharegozlou claimed that the number of employees at Dapper Labs had skyrocketed from 100 to 600 in less than two years. And according to him, the job cuts were necessary for Dapper to stay in business.
Now, however, the CEO is linking the new job cuts to restructuring. That is, the layoffs will focus on employees of units that might not fit into their futuristic plans.
Gharegozlou also dismissed thoughts that the job cuts could be due to financial problems. He said the move only aligns with the company’s long-term goal of ensuring sustainable growth for its communities. He said:
“Dapper Labs remains in a strong cash position with no outstanding debt.”
NFT market on a rebound
It is worth mentioning that the recent move by Dapper Labs also follows a resurgence in the NFT market. Recently, trading volumes are increasing exponentially, even as non-fungible tokens (NFTs) are coming back to life. The momentum, though general for all crypto markets, follows the recent launch of the NFT marketplace, Blur. Blur immediately became an instant hit, with a 53% NFT market share a few months after launch.
Dapper Labs continues to be the curator of several top NFT collections. Some of them include NBA Top Shots, NFL All Day, CryptoKitties, and many more.
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Mayowa is a crypto enthusiast/writer whose conversational nature is quite evident in his writing style. He strongly believes in the potential of digital assets and takes every opportunity to reiterate it. He is a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from cryptocurrency, however, Mayowa’s imagined distractions include soccer or discussions of world politics.
