The company behind celebrity cameo videos has fired a quarter of its employees

Cameo, the company that makes you pay a celebrity to record a personal message or make a video call with you, has announced it will lay off 87 people, or about a quarter of its workforce. The information† According to the report, employees were told the news during a meeting with all concerned on Wednesday.

The company’s co-founder and CEO Steven Galanis says the layoffs are a “price correction” after Cameo boomed during the pandemic. According to Galanis’ statement, the company went from just over 100 to nearly 400 employees during the lockdown Variety† Since then, he says, “market conditions have changed rapidly.” early 2021, Variety reported that the company’s 2020 sales were 4.5 times higher than in 2019. Galanis told the outlet that its success was in part because so many actors turned to the platform after other projects were halted, predicting they would stay.

It sounds like that prediction didn’t quite come true, as the company is now cutting its workforce significantly.

Today was a rough day at the office.  I made the painful decision to let go of 87 beloved members of the Cameo Fameo.  If you're looking to hire hungry, humble, smart, friendly, curious, instructive machines that love to win - and you see Cameo on their resume - then look no further.

The tweet announcing the layoffs of Cameo’s CEO.

On Twitter, Galanis has asked other companies to hire the dismissed members of the “Cameo Fameo”. While it’s a nice feel, the tone is…awkward to say the least. Executives who say their company is like family and then let a good portion of employees go is unfortunately nothing new, and it is almost always uncomfortable to see corporate culture clashing with the realities of capitalism. But using a cute name for your employees in the context of publicly announcing layoffs probably won’t soften that blow.

(Also: I do understand that CEOs probably take an emotional toll when they let people go — they’ve disappointed people who entrusted their livelihoods to their care. But maybe they shouldn’t call it a “ruthless day at the office,” considering it’s probably was much worse for the people who actually lost their jobs.)

However, Galanis is not necessarily known for his tact; in March, he reportedly said Web3 resembled Europe’s colonization of America, drawing an analogy about trading beads for Manhattan Island. This was apparently meant to make Web3 seem like a good thing. In his statement to Variety Regarding the layoffs, Galanis said he wanted to make sure the company had “the time and space to nurture newer business segments such as Cameo for Business, Represent and web3.” On Tuesday, the company announced its latest Cameo for Business venture; a partnership with Snap, Inc where advertisers can hire Cameo artists to appear in ads on Snapchat.

Frank Broholm had acquired considerable experience in writing and editing publications before recruited by The Media Today Chronicle News portal as Editorial Manager. His key task is to conduct effective business reviews based on the most recent business…