Yuga Labs Announces Layoffs
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Oct. 9, 2023

The developer of popular NFT collection Bored Ape Yacht Club (BAYC), Yuga Labs, has announced a restructuring and downsizing.

Greg Solano, co-founder of the company, has said that following the restructuring, the studio employs more than 120 people.

Yuga Labs CEO Daniel Alegre, who joined the team in December, has said this forced decision will allow the firm to better focus on the studio's main priorities.

Going forward, the company will focus on the Otherside metaverse, which launched in spring 2022. Alegre has promised project participants a "new gaming experience" in 2024. Among other things, Yuga Labs will focus on community development.

Alegre has written:

"This is a challenging time not only for our industry, but also for the global economy. We must focus on our core strengths and continue to create immersive experiences for large audiences."

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