Yuga Labs announces a restructuring plan, including layoffs, to refocus on core crypto-native projects and streamline operations.
Yuga Labs’ co-founder and CEO, Greg Solano, stated:
“I am hellbent on transforming Yuga and getting us back to our roots, and that means making hard decisions.”
In a note to the group, Solano stated that Yuga Labs had become disoriented and that the reorganization would result in the formation of a more compact, adaptable, and crypto-focused staff.Â
“The creative-first spirit that dove this company from inception has been getting muddied by labyrinthine corporate processes. We work hard and we care but somehow end up with groups and committees. We plan more than we ship.”
The CEO and co-founder of Yuga Labs, Greg Solano, stated that some of the company’s goals have already started to be carried out. According to the CEO of Yuga, the company Farawaygg, which developed web games for Yuga like Dookey Dash and recently bought HV-MTL and Legends of the Mara, will let Yuga concentrate on making 3D Otherside games.Â
On February 21, Solano declared his intention to succeed previous Yuga CEO Daniel Alegre and thanked him. He continued, saying he is “reinvigorated to be taking the reins for our next chapter” in the startup’s history, in the message.
As part of a larger restructuring, Yuga Labs announced in October 2023 that it was terminating staff members from its U.S. team. The business made the decision to concentrate on creating the gaming metaverse Otherside.
