Cameo, an app that has become a favorite of the pandemic by allowing people to pay celebrities to send them personalized video greetings, told its employees that it is cutting more than 80 employees, about a quarter of its workforce, according to one of the employees. The company announced its plans to employees on Wednesday during a general meeting.

“The decision to cut our staff was a painful but necessary exchange rate adjustment” to balance costs with our cash reserves, “CEO and co-founder Stephen Galanis said in a statement to The Information.

Other start-ups and public companies that thrived at the start of the 2020 pandemic have experienced delays and layoffs to save costs. These include the Hopin online event app, the Robinhood stock buying app, the automation firm Hyperscience and the Gopuff food delivery app. Most of the approximately 350 employees at the Chicago-based Cameo worked remotely after the pandemic.

https://www.theinformation.com/articles/cameo-a-celebrity-shoutout-app-lays-off-25-of-workforce

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