Chicago, Illinois-based Cameo, a creator of customized video messages from celebrities, actors, musicians, and athletes, has announced a restructuring.
The restructuring effort impacted 25% of Cameo's workforce or approximately 87 employees, including chief technology officer Rob Post, chief product officer Nundu Janakiram, and senior vice president of marketing Emily Boschwitz.
According to a statement from Cameo CEO Steven Galanis,…
“To support both fan and talent demand during the pandemic lockdowns, Cameo’s headcount exploded from just over 100 to nearly 400. We hired a lot of people quickly, and market conditions have rapidly changed since then. Accordingly, we have right-sized the business to best reflect the new realities."
“The decision to reduce our headcount was a painful but necessary course correction to ensure that we regain focus as well as achieve the agility to navigate new challenges, the ability to optimize our financial resources, and time and space to nurture newer business segments like Cameo for Business, Represent and web3 that we believe will be as big as the core business that put us on the map. We are bullish on the intermediate and long-term future of Cameo, and the actions we have taken to balance our costs with our cash reserves will best position the company to take full advantage of those growth opportunities.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?