Ava Labs Cuts 12% of Workforce to ‘Reallocate Resources’

Ava Labs, the driving force behind the Avalanche Blockchain, has made a strategic decision to reduce its workforce by 12%, allowing for the repositioning of resources to fuel the growth of both the company and the wider Avalanche ecosystem.

The announcement was made by Emin Gün Sirer, the founder and CEO of Ava Labs. In the midst of bear markets,

Gün Sirer underscored the company’s resilience, boasting substantial resources and a solid runway to guide them through the complex crypto landscape.

The impact of these layoffs has been significant, primarily affecting the marketing division, according to Garrison Yang, who serves as the VP of Growth and Strategy at Ava Labs.

Although it remains unclear whether the company’s technical teams were affected, the widespread nature of these layoffs took many employees by surprise, even in the face of the ongoing crypto market challenges.

In an X post made by ex-Gaming Growth Marketing on November 6th, he was one among those that has publicly revealed that he was laid off.

Brandon Suzuki, who was part of Ava Labs’ marketing team also confirmed that he was laid off on November 6th.

After revealing that they were let go, they have received a wave of support from the crypto industry.

Numerous companies and industry professionals have reached out to offer their support, networking opportunities, and even potential job openings to the displaced employees.

Ava Labs is not alone in its efforts to adapt to the current crypto market conditions. Just recently, the popular NFT marketplace OpenSea also underwent a restructuring process, which resulted in a substantial 50% reduction in its workforce, as reported previously on Coinlive.

This highlights the persisting challenges faced by crypto firms, despite the recent market rallies

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.