Dapper Labs Adds to Crypto Lay-Off After Axing 20% of its Workforce

Dapper Labs Adds to Crypto Lay-Off After Axing 20% of its Workforce

Share Post:

Even though the crypto market has demonstrated to an extent, some positive responses since stepping into 2023, the market strength is yet not enough to stop crypto firms’ layoffs.

Dapper Labs is the latest crypto firm to axe a certain percentage of its staff, according to a February 23 letter sent by the company’s CEO to team members.

In the letter by the CEO Roham Gharegozlou sent the letter, the firm is planning a restructuring and part of the plans to do this is by laying off some staff.

“As part of this restructure, we have made the difficult decision to part ways with team members representing 20% of full-time employees,” Gharegozlou noted in the letter.

In less than two years, especially during the peak of the NFT markets, Dapper Labs has been proliferating, bringing up its staff level to 600 from 100 employees.

Dapper Labs is the company behind Flow blockchain, UFC StrikeA NFL All Day, CryptoKitties, and NBA Top Shot. Dapper  Labs uses blockchain technology to bring NFT and new forms of digital engagement to fans globally.

In the letter, the company’s CEO noted that the company “remains in a strong cash position with no outstanding debt.” He furthered that the company is committed to its flagship products and is tremendously excited about several major projects to be launched this year.

The affected staff will be assisted with “generous compensation, health continuation benefits, extended exercise windows for equity stock options, and mental health benefits as well as job search support.”

This is however the second lay off by Dapper Labs since the beginning of the crypto crash in 2022. In November, the company announced the layoff of 22% of its staff.

Will the crypto industry witness more layoffs? Share your comments below. However, you can improve your crypto trading skills by joining our ParadiseFamilyVIP, there will be a personal professional crypto trading expert to teach you how to execute your trade and make a fortune on Binance, Bybit and KuCoin exchanges.

We share at least 3 best crypto trading signals per day, Use PRO20% for your special 20% discount today as the promo expires soon. Click here to see reviews from our clients.

Join our telegram channels where we share our FREE updates and analysis on coins like BTC, ETH, and other trending altcoins. We also share our FREE secret insights, and also FREE market updates.

Notify of

Inline Feedbacks
View all comments

Recent Articles

Follow Us

Trade Crypto Like a PRO

Decrease the risk of losing everything you have.

A team of 4 professional traders is sharing their personal daily trade setups with you.

Imagine finally having the right strategy, insights and knowledge to profit from the volatile crypto market movements consistently.

Safe Time, and Start Trading Like a PRO Today
Dark Mode