Cool Cats NFT project has allegedly terminated staff members without giving any reasons. Several team members recently took to Twitter to reveal that they were “suddenly” let go, with one member calling the move “a huge shock”. Meanwhile, there is speculation that the recent development is a “cost saving measure” under the new CEO.
Let’s take a closer look at what’s happening with Cool Cats staff members.
Cool Cats is yet to make a statement.
What happened with the Cool Cats staff members?
Yesterday, Kittycakes, the former senior digital illustrator at Cool Cats, revealed that she is no longer employed by the project.
“Sadly this decision was not my choice, and came about suddenly,” she tweeted. “This news came as a huge shock, and I’m still trying to process. I’m not exactly sure why I was let go, but I do know other people were also impacted.”
Similarly, former Cool Cats staff, Dani was also terminated on the same day. “After telling me the news (by HR) i had no longer access to slack and emails 10mins after the call. I had 0 chance to say bye,” they tweeted.
Why did this happen?
As of now, there is little information on why Cool Cats laid off some of its staff members. However, Kittycakes tweeted, “If I had to guess, I would assume the company is being restructured under the new CEO, and cost saving measures are being taken across departments.”
Due to the crypto winter, several projects and companies were forced to make harsh decisions. In July, for instance, OpenSea laid off 20% of its workforce, citing the market crash and global economic uncertainty. It is possible that Cool Cats’ decision stems from similar reasons. However, we will only know for certain once (and if) the project makes an official statement.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
Reethu Ravi is a journalist based in India, covering environment, sustainability, tech and innovation. When not found between the pages of a book, she can be seen catching up on the latest developments in the tech world. A naval architect-turned journalist, she loves bringing stories of change and innovation to the limelight.