Yuga Labs, the creator of the Bored Ape Yacht Club NFT collection, has announced a significant restructuring that includes layoffs, acceptance of voluntary departures, and a refocus on a smaller, more agile crypto-native team. The company's CEO, Greg "Garga" Solano, admitted that the $4 billion startup had 'lost its way' and expressed a need to return to basics. This restructuring follows a period of rapid growth, high-profile investments, including a $450 million funding round, and a controversial sell-out to the World Economic Forum. The layoffs have affected various employees, sparking reactions across the community about the impact on those who lost their jobs. Yuga Labs will now focus on game development for 3D Otherside and spin off HV-MTL and Legends of the Mara.