The company behind celebrity cameo videos has laid off a quarter of its workers
by Mitchell Clark from The Verge - All Posts on (#5YWPE)
The company apparently grew too large during the pandemic. | Image: Getty Cameo, the company that lets you pay a celebrity to record a custom message or hop on a video call with you, has announced that it's laying off 87 people, or around a quarter of its staff, according to The Information. According to the report, employees got the news at an all-hands meeting on Wednesday.
The company's co-founder and CEO Steven Galanis says the layoffs are a course correction" after Cameo grew massively during the pandemic. The company went from just over 100 to nearly 400" employees during lockdown, according to Galanis' statement to Variety. Since then, he says, market conditions have rapidly changed." Early in 2021, Variety reported that the company's revenue was 4.5 times higher in 2020 than it had been in 2019....