Dapper Labs’ CEO Roham Gharegozlou announced the second round of layoffs under “corporate restructure”, in which it will cut down 20% of staff.
On Wednesday, Roham Gharegozlou sent an email to investors, writing, “As part of this restructure, we have made the difficult decision to part ways with team members representing 20% of full-time employees.”
“Dapper Labs remains in a strong cash position with no outstanding debt,” he added. “With the right cost structure, we can think long term. Our goal is to grow our communities sustainably.”
The move comes amid the rebounding of the NFT market as recently trading volume soared in an exponential manner. The boost in the NFT market was observed after Bitcoin’s on-chain NFT initiative and NFT marketplace for pro-traders, Blur.
Dapper Labs is the curator of the top NFT collections such as CryptoKitties, NBA Top Shot, NFL All Day, and so on. While revealing the second round of layoff, Roham Gharegozlou assured the financial stability of Dapper Labs and stated, “strong cash position with no outstanding debt.”
Earlier, A Top Shot creator Dapper Labs terminated 22% of its workforce in November, citing the macroeconomic environment.
