NFT : Dapper Labs CEO to lay off 20% of full-time staff again
Crypto winter

NFT : Dapper Labs CEO to lay off 20% of full-time staff again

Dapper Labs, a crypto startup specializing in NFT, reveals a shocking decision to lay off 20% of the full-time staff. This decision is made for restructuring needs of the company. This suggests that the trend is not good in the crypto market.

Indeed, while the recent rise in the Bitcoin (BTC) price has given some people hope that the crypto sector is on the rise again, unfortunately many crypto companies are still facing a down cycle that is taking hold for the long haul.

On February 23, Roham Gharegozlou, CEO of Dapper Labs made an announcement that shocked more than one employee of this crypto company. Dapper Labs (FLOW), a blockchain startup known for its CryptoKitties or the NFT NBA Top Shot, has just announced that it will lay off 20% of its current staff.

As part of this restructuring, we have made the difficult decision to part ways with team members representing 20% of full-time employees, writes Roham Gharegozlou.

The change did not impact those who did not receive notification. This is the second round of layoffs for Dapper Labs after having to let go of 22% of its employees in November of last year due to growing too fast.

Dapper Labs is taking the brunt of a slumping crypto market where NFT trading has also collapsed in recent months.

However, the CEO of Dapper Labs is keen to reassure investors by stating that the company is in a “strong cash position with no outstanding debt.”

The announcement of Dapper Labs’ layoffs comes as the Polygon blockchain project (MATIC) has also just laid off 20% of its staff.

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Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

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