- CEO Daniel Alegre relayed the news to the team, underlining the move’s need.
- Yuga Labs’ worldwide staff is preparing for the possibility of structural changes.
The creative studio behind Bored Ape Yacht Club (BAYC) and CryptoPunks, Yuga Labs, has announced a round of layoffs across its U.S departments. CEO Daniel Alegre relayed the news to the team, underlining the move’s need during tough global economic circumstances.
Consequently, the organization is getting through these tough times by concentrating on what it does best and making sure it can keep doing it forever. In addition, the internal alterations remain cloaked in secrecy, with the precise number of impacted personnel remaining unknown.
Greg Solano, however, the company’s co-founder, revealed some information about the company’s activities. He assured everyone that even with the cutbacks, Yuga still has more than 120 workers supporting their creative efforts.
Restructuring Efforts
While the United States teams have taken the worst hit, the restructuring’s effects on the rest of the world are still being evaluated. As a result, Yuga Labs’ worldwide staff is preparing for the possibility of structural changes.
Six months after taking over as CEO, Daniel Alegre saw something critical was missing. He saw that the team’s efforts were being spread thin by a number of initiatives that had good intentions but required knowledge outside of their area of competence.
Thus, the reorganization choice affects the make-up of the team and represents a strategy move towards more competent project execution. In addition, Alegre’s background as president and COO of Activision Blizzard might be invaluable in dealing with these changes.
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