CryptoUS
Ocavu Layoffs
November 2022
Ocavu announced a layoff affecting 20 employees (48% of its workforce) in November 2022. The company operates in the Crypto sector.
People Affected
20
Percentage
48%
Announced Date
Nov 10, 2022
About
Ocavu, a Utah-based tech company partnering with BYU on NFTs, has laid off 200 employees, representing a significant reduction from its workforce. The CEO described the cuts as eliminating "underperformers" to balance staffing, while also mentioning the company is receiving "major buyout offers." This restructuring follows a period where the company was valued at $1.9 billion last year, indicating a strategic shift in the competitive NFT and blockchain industry.
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