Yuga Labs layoffs — Apr 28, 2024

Yuga Labs Resumes Layoffs on 2024-04-28 as Restructuring Continues; Jobs Cut Not Disclosed

Yuga Labs, the Web3 company behind the Bored Ape Yacht Club ecosystem, resumed layoffs on April 28, 2024, according to reporting cited by Google News. The company did not disclose how many jobs were cut or what percentage of its workforce was affected.

The move appears to be part of a broader restructuring effort rather than a one-time staffing adjustment. According to the editorial summary provided, Yuga Labs’ CEO said the company had “lost its way,” signaling that the layoffs were tied to an internal reset of the business.

Yuga Labs is a Web3 company known for building and managing NFT and crypto-native brands and products. Its portfolio has made it one of the most recognizable names in the digital asset sector, particularly around the Bored Ape Yacht Club community and related projects.

No additional details were disclosed about the scope of the restructuring or whether more workforce changes are expected. Based on the available reporting, the company has not provided a numerical breakdown of the layoffs or a timeline for further action.

Sources: Google News