Cameo, the celebrity video greetings startup, laid off 87 of staffers Wednesday, a move that CEO Steven Galanis described as “right-sizing.” The layoffs also affected some of Cameo’s most senior executives, Protocol has learned. Leadership departures included Cameo CTO Rob Post, top marketing executive Emily Boschwitz, CPO Nundu Janakiram and Chief People Officer Melanie Steinbach, according to a source close to the company.
The team in charge of music partnerships saw big cuts, according to a LinkedIn post first reported by The Information. Also affected by the layoffs were the company’s international operations, including much of its London office, as well as a number of employees in sales and marketing, the source told Protocol. Galanis is said to have announced the layoffs in a staff meeting, during which he told staff that the company was forced to cut costs because it hadn’t met revenue projections.
In a statement to press, Galanis pointed to pandemic-fueled hiring as a reason for the cuts. “We hired a lot of people quickly, and market conditions have rapidly changed since then,” he said. “Accordingly, we have right-sized the business to best reflect the new realities.”
Galanis went on to call the layoffs “a painful but necessary course correction.” Cameo has raised a total of $165 million in funding to date.