Cameo Lays Off 1/4 of Its Employees
Cameo , the company that lets you pay a celebrity to record a private message or jump on a video call, announced it is laying off 87 people, or about a quarter of its staff, according to The Information . According to the report, employees received the news at a comprehensive meeting on Wednesday.
Steven Galanis, the company’s co-founder and CEO, said the layoffs were a “course correction” after Cameo grew massively during the pandemic. The company grew from “a little over 100 employees to nearly 400” during quarantine, Galanis told Variety. Since then, “market conditions have changed rapidly,” he says. In early 2021 , Variety reported that the company’s revenue was 4.5 times higher in 2020 than in 2019. Galanis told the outlet that the success was due in part to so many actors returning to the platform after other projects were put on hold. And he said that this situation was also predicted.
Considering that the company has significantly downsized its workforce, it appears that this prediction was not entirely realized. I leave you the tweet sent by Steven Galanis.