Dapper Labs, a prominent company in the blockchain and Non-Fungible token (NFT) space, recently laid off some of its staff according to CEO, Roham Gharegozlou. In a tweet, Roham revealed that the company had made a difficult decision to lay off 51 full-time employees and C1 contractors.
We said goodbye to 51 brilliant colleagues and friends today @dapperlabs – this is the note I sent our team.
We remain fully dedicated to our core communities and committed to building amazing products that push the world forward together.
If you're looking to hire some of the… pic.twitter.com/xwhjZAYLN8
— roham (@roham) July 13, 2023
Notably, this move is part of the company’s effort to streamline and optimize its operations, making the business leaner and more efficient. While it may come as a surprise to some, the move by the blockchain technology firm reflects a proactive approach to ensure long-term sustainability and success.
Dapper Labs to Drive Growth Amid Layoff
By implementing these layoffs, Dapper Labs aims to create a more nimble and agile organization. This leaner structure will allow the organization to focus on its core competencies and allocate resources more effectively.
While it is always not cool to see individuals lose their jobs, it is important to recognize that this decision was made with the long-term health and growth of the company in mind. However, the CEO promised to support the laid-off employees in any way he can.
Moreso, Dapper Labs remains committed to its mission of bringing decentralized applications and unique digital experiences to users worldwide. Additionally, the strategic move aligns with the firm’s commitment to innovation and its dedication to creating value in the blockchain and NFT space. Also, Roham noted that Dapper Labs will be collaborating with Flow, its NFT-focused blockchain to pursue its mission.
However, as the business evolves and new developments emerge, it will be intriguing to observe how Dapper Labs adapt its strategies and whether this move signifies a broader shift in its stance towards future growth.
Recall that, this is not the first time Dapper Labs is making a decision to downsize its workforce. The blockchain gaming giant slashed about 22% of its staff (almost one-quarter of its employees) amid a company restructuring in November 2022. Although, the company curated a package for the departing employees including compensation, health, and other benefits.
Just a few months ago, the blockchain company also slashed another 20% of its full-time staff as part of its restructuring plans.