Yuga Labs, the creator of the Bored Ape Yacht Club NFTs, has declared a company restructuring. This announcement was released by Greg Solano, the co-founder of the firm and the newly returned CEO, through a string of posts that he shared both on Twitter and on the company Slack.
The objective, as Solano points out, is to shift the company back to its original roots and operational size with the focus on a leaner, more agile team aligned with crypto-native principles. This change is taking place due to the necessity of Yuga Labs to return to the state of the innovative company in the environment of the quickly changing market of digital assets.
Details of the Yuga Labs Layoffs
The restructuring plan will involve another layoff round after the cuts made last October. Although the number of affected positions wasn’t clarified, the decision is embedded in a massive downsizing plan to improve the operation efficiency.
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