Yuga Labs Lays Off More Staff in Latest Restructuring Program

• Yuga Labs has embarked on a restructuring program.
• According to Yuga CEO, he is hellbent on transforming the company back to its roots.
• Yuga’s restructuring involves laying off staff and refocusing on the company’s goals.

Yuga Labs, the company behind the famous Bored Ape Yacht Club (BAYC) NFT collection, has started a restructuring program. In a recent post on X, the Yuga Labs CEO, Greg Solano, said he is hellbent on transforming Yuga and “getting the company back to its roots.”

According to Solano, the restructuring program will involve several hard decisions, the hardest of which would be saying goodbye to some talented team members. He cited a direct message he sent the Yuga team, highlighting the core reasons behind the restructuring decision.

In the message, Solano clarified his determination to change what they do at Yuga and how they do it. He emphasized that Yuga lost its way, and getting themselves centered would imply becoming a smaller, more agile, and crypto-native team. He plans for the Yuga team to change its operational pattern by doing fewer things but doing them brilliantly.

Solano told the team that part of the restructuring process had already begun, with the spinout of HV-MTL and Legends of the Mara. According to him, those elements will allow Yuga to focus on its gaming efforts, 3D Otherside.

For those who would remain at Yuga, Solano emphasized that the next phase will not be easy. He stressed that the tasks will be about speed, agility, and commitment, noting that anyone willing to leave the company is welcome to take the same severance offered to affected employees.

The Yuga Labs CEO did not state the severance offerings to the affected staff in the lay-off nor specify the number of team members affected. However, it is essential to recall that the company had about 120 employees after its last restructuring program in October 2023.