‘Lost’ Yuga Labs restructures again, with layoffs, new executive
The creator of the Bored Ape Yacht Club has been struggling with a changing market and still plans to focus on its Otherside metaverse project.
Yuga Labs CEO Greg Solano had a “tough day,” he informed company employees in a message that he then shared with the world on X. Some of those employees had an even worse day after an all-hands meeting where layoffs were announced. Yuga lost its way, Solano explained.
In his message to the staff, Solano said he had been appraising the company in the two months since he took over as CEO, and his conclusion was unsettling:
“Creator royalties were thriving and made our whole ecosystem electric. Now we’re in hard mode,” Solano said, but he has a plan.
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Author: Derek Andersen
