Yuga Labs will restructure, anticipating to lead to workforce members’ layoffs.
Firm Co-Founder and CEO Greg Solano offered an organization memo asserting the restructuring. In his assertion, he referred to as at present “powerful.”
“I am hellbent on remodeling Yuga and getting us again to our roots, and that means making arduous choices.”
Greg Solano, Yuga Labs Co-Founder and CEO
In a message to the workforce, Solano famous that Yuga Labs had misplaced its manner and that it intends to create a smaller, extra versatile, and crypto-focused workforce with the restructuring.
“The creative-first spirit that dove this firm from inception has been getting muddied by labyrinthine company processes. We work arduous and we care however by some means find yourself with teams and committees. We plan greater than we ship.”
Greg Solano, Yuga Labs Co-Founder and CEO
Solano famous that a number of the firm’s plans have already begun to be applied. Yuga’s CEO acknowledged that Farawaygg, the web3 sport growth agency that Yuga used to develop its Dookey Sprint sport and which just lately acquired web3 video games HV-MTL and Legends of the Mara, will permit Yuga to give attention to creating 3D Otherside video games.
On Feb. 21, Solano thanked former Yuga CEO Daniel Alegre and introduced that he would take over his submit. Within the message, he added that he’s “reinvigorated to be taking the reins for our subsequent chapter” within the startup’s story.
In October 2023, Yuga Labs announced it was shedding staff from its U.S. workforce as a part of a broader restructuring. The corporate determined to focus its drive on growing Otherside, a gaming metaverse.