Chicago's own Cameo joined the ranks of a number of high-profile tech companies that have announced job layoffs in recent weeks.
After reaching new heights and unicorn status in 2021 and moving into a new office in River North in September, the celebrity engagement platform will cut 80 jobs in this latest round, reported The Information.
Cameo founder and CEO Steven Galanis announced the news on Twitter Wednesday, stating that he made the decision to reduce the size of the team “in order to adjust to the worsening macroeconomic environment.”
This is the second time this year the company reduced its workforce after laying off more than 80 employees in May. At the time the company had around 350 employees.
In a statement sent to the Chicago Business Journal on Thursday, the company said:
We believed we right-sized our business with our reduction last May, but as the economic conditions continue to slow growth, Cameo will sharpen its focus with a more streamlined team. We remain confident in our mission to build a frictionless marketplace that enables talent to connect with fans and brands through the authentic, personalized experiences that first put Cameo on the map.
Cameo's announcement comes as major jobs cuts have also been announced by Meta, Twitter, Salesforce, Stripe, Redfin, Lyft and Opendoor this month, according to Layoffs.fyi.
