The latest of the web 3 companies to announce slashing its team size to cope with the deteriorating economic conditions is NFT powerhouse Dapper Labs. Citing the macroeconomic environment, the firm is laying off 22% of its staff.
Roham Gharegozlou, the company’s founder and CEO, stated that all notification emails have already been sent to the departing team members and that those yet to be notified are not impacted.
Gharegozlou stated that the company grew from 100 to over 600 employees in less than two years, launching operational challenges that prevented it from being as “aligned, nimble, and community-driven” as it needed.
He further stated that he assumes responsibility for that in addition to the “difficult decision” of laying off its staff as the business gears for restructuring.
Gharegozlou said the Canadian blockchain company has streamlined and focused its product strategy around a more sustainable cost structure that involves “making difficult decisions based on the skills and capabilities.”