Yuga Labs is set to undergo a major organizational change, which will include reducing its workforce. The announcement was made by the company’s co-founder and CEO, Greg Solano, in a recent memo to employees. Solano described the decision as “tough” and stressed the necessity of returning to the company’s foundational principles.
Solano expressed his determination to refocus the company’s efforts and streamline its operations. He noted that the innovative spirit that originally drove Yuga Labs has been clouded by complex internal processes and an overload of planning. “We work hard and we care but somehow end up with groups and committees. We plan more than we ship,” he stated.
He also outlined recent strategic developments, such as incorporating Farawaygg, a web3 game development firm, into Yuga’s operations. The changes aim to enhance Yuga’s capabilities in creating advanced games, including the development of the 3D Otherside games. These actions reflect Yuga’s focused interest in the cryptocurrency sector and gaming innovations.
The restructuring process started taking shape in October 2023 when Yuga Labs announced it was reducing its U.S. team to better concentrate on developing its gaming metaverse, Otherside. In February, Solano took over again from former CEO Daniel Alegre in February, expressing gratitude for his service. Taking over the role, Solano conveyed his excitement about leading the company through all its planned changes.