Dapper Labs ax a further 20 % of his employees

Dapper Labs ax a further 20 % of his employees
On February 23, RoHam Gharegozlou, CEO from Dopper Labs, sent a letter to the team in which he announced a “corporate restructuring” and the layoffs.
It is the second round of corporate resolutions after staffing down by 22 % in November. Gharegozlou explained:
"As part of this restructuring, we made the difficult decision to separate ourselves from team members who make up 20 % of full -time employees."
The company has previously cited too quickly growth, whereby the number of employees during the NFT boom has increased from 100 to 600 employees in less than two years.
The company is the developer behind some of the most popular NFT collections in the world, such as NBA Top Shots and the first game that Ethereum overloaded in 2017, Cryptokitties.
Dapper Labs adds crypto discovery
Despite the staffing the staff, Gharegozlou said that the company "remains in a strong liquidity situation without outstanding debts". He added that "we have committed ourselves to our flagship products and are very happy about several major market launches this year."
For the unfortunate ones who are in front of the ax, there is a performance package that includes "generous remuneration, benefits for the continuation of health, extended exercise windows for stock options and services for mental health as well as support for work".
The layoffs in the entire crypto industry have continued, although the markets have so far increased by 38 % this year. On February 22, the blockchain research and analysis company Messari announced that it would be released 15 % of its workforce. The cause was called “market counterpart” in the crypto sector.
In January, the provider of Digital Asset Exchange and Wallet Crypto.com announced a downgrading of personnel by 20 %. However, the stable coin emittent Circle has opposed the trend by 25 % with an increase in its workforce.
ongoing legal proceedings
In addition, Dapper Labs is currently involved in a legal proceedings. On February 22, Victor Marrero, judge at the US district court, rejected the law firm's application for rejection of a lawsuit regarding the top shot NFT collection.
The judge claims that the NFTS offered by Dapper Labs seem to be fulfilled by the definition of a securities. Gharegozlou said:
"There are many misinformation about the type of this judgment. Everything that means the judgment is that the case is disclosed without making a decision about whether NBA TOP Shots are securities."
today's decision in the matter Friel v. Dapper Labs - whom the court described as "scarce" - has only rejected our application to dismiss the lawsuit in the plea phase of the case. The judge did not come to the conclusion that the plaintiffs were right, and it is not a final decision on the reasons for the case.
- Dapper Labs (@Dapperlabs) 22. February 2023
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