Yuga Labs Restructures, Lays Off Employees Amid Transformation

Yuga Labs Inc., the developer of the popular Bored Ape Yacht Club nonfungible token collection, is letting go of an unspecified number of employees as it undergoes restructuring. Chief Executive Officer Greg Solano, who also uses the nickname “Gargamel,” wrote in a social media post on X that he was “hellbent” on transforming the company, which meant making hard decisions, noting that “by far the hardest is saying goodbye to some talented team members.” He included images of a message he said was sent to employees on Friday, which noted that affected workers were invited to a meeting later that day.