Dapper Labs is letting go of another 20% of its staff, according to the Block, citing an email it obtained that was sent to investors on Wednesday from company CEO Roham Gharegozlou.
In the email, Gharegozlou announced a corporate restructuring and said that “as part of this restructure, we have made the difficult decision to part ways with team members representing 20% of full-time employees,” he wrote.
Gharegozlou also noted that the company is in a “strong cash position with no outstanding debt.”
Dapper had previously laid off 22% of its staff in November.
On Monday, a federal judge ruled that Dapper’s NBA “Top Shot Moments” NFTs could be considered securities.
Dapper Labs did not immediately respond to a request for comment.