Cameo Lays Off 25% of its Staff During All-Hands Meeting, CEO Makes Plea on Twitter For Other Companies to Hire Them
The popular celebrity video messaging company Cameo has laid off 25% of its workforce.
The layoffs took place during an all-hands meeting on Wednesday. Cameo grew popular during the pandemic and allowed fans to pay for personalized messages from their favorite celebrities.
According to Variety, in 2020 alone, the company generated $100 million in gross revenue.
Since the slow down of Covid cases and venues re-opening for concerts and shows, Cameo’s revenue has slipped.
Cameo CEO Steven Galanis spoke with Variety regarding the cuts:
“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.”
Galanis also said the layoffs will allow the company to optimize their financial resources as they move into the future.
The CEO took to Twitter on Wednesday night to express his sadness over the loss of 87 employees and encouraged other business owners to hire them. He said, “Today has been a brutal 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, kind, curious, learning machines who love to win – and you see Cameo on their resume – look no further.”
Today has been a brutal 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, kind, curious, learning machines who love to win – and you see Cameo on their resume – look no further.
— Steven Galanis (@Mr312) May 4, 2022
