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Dapper Labs CEO reveals shocking decision to lay off 20% of full-time staff

Dapper Labs CEO reveals shocking decision to lay off 20% of full-time staff

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TL;DR

  • Dapper Labs lays off 20% of its staff.
  • This is the second round of layoffs for Dapper Labs after they had to lay off 22% of their employees in November last year due to overly rapid growth.

Dapper Labs sent a letter to its staff on Thursday, announcing the decision to restructure the organization by laying off 20% of their full-time employees. Founder and CEO Roham Gharegozlou explained in the letter that this decision was made to sharpen focus, increase efficiency, and better serve communities within the market.

The change did not impact those who did not receive a notification. This is the second round of layoffs for Dapper Labs after they had to lay off 22% of their employees in November last year due to overly rapid growth. At that time, Gharegozlou expressed that these cuts were necessary for the longevity and success of Dapper’s business and its communities.

“We are deeply grateful to our departing colleagues and wish them well in future endeavors,” he wrote in today’s staff letter. “Today is a difficult day—please be there for each other, and take time for yourselves.”

It is essential to know that the CEO encouraged employees to reach out to him or other executives of the company in case of questions. However, he assured the laid-off staff would be taken care of.

He remarked that the team had invested great effort in designing a comprehensive set of benefits to benefit every employee, comprising substantial compensation, health continuation provisions, extended exercise windows for equity stock options, mental health support, and job search aid. “The range of offerings is designed to provide considerable assistance to our people,” he noted.

It has been an eventful week for Dapper Labs, as United States District Court Judge Victor Marrero denied their motion to dismiss a lawsuit regarding NBA Top Shot NFTs. “Contrary to some reports, this ruling does not mean that NBA Top Shots are securities,” said Roham Gharegozlou, CEO of Dapper Labs. “It simply means that the case proceeds to the next stage – discovery – and no substantive decisions have been made yet.”

Gharegozlou expressed his gratitude for the Dapper Labs team, vowing to continue improving, learn from past experiences, and foster growth within their products and communities.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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