The company behind celebrity cameo videos has laid off a quarter of its workers

Cameo, the company that lets you pay a celebrity to record a custom message or hop on a video call with you, has announced that it’s laying off 87 people, or around a quarter of its staff, according to . According to the report, employees got the news at an all-hands meeting on Wednesday.

The company’s co-founder and CEO Steven Galanis says the layoffs are a “course correction” after Cameo grew massively during the pandemic. The company went “from just over 100 to nearly 400” employees during lockdown, according to Galanis’ statement to . Since then, he says, “market conditions have rapidly changed.” Early in 2021, Variety reported that the company’s revenue was 4.5 times higher in 2020 than it had been in 2019. Galanis told the outlet the success was partially because so many actors turned to the platform after other projects were put on hold, and predicted that they would stick around.