Ava Labs has Laid off 12% of its Workforce: Details
- Ava Labs has laid off 12% of its workforce, and CEO Emin Gün Sirer confirmed the news via Twitter.
- The firm will “reallocate resources to double down on the growth of our firm and the Avalanche ecosystem.”
- He said that the firm is “fortunate to have significant runway and resources at our disposal.”
- The firm has 335 employees, as per LinkedIn, and it seems that 40 people were impacted by the layoff.
Ava Labs, a prominent blockchain-focused firm that is responsible for the development of the Avalanche (AVAX) blockchain, has let go of 12% of its staff. CEO Emin Gün Sirer confirmed the decision, adding that the firm has plans to expand its operations and seeks to invest the money saved in other areas.
Gün Sirer confirmed the news on November 7 after a number of former Ava Labs employees confirmed via social media platform X (formerly Twitter) that they had been laid off. He is also “thankful to everyone who contributed to Ava Labs and helped champion the Avalanche ecosystem.”
“Today we parted ways with some of our Ava Labs team members. We are no longer a 12-person startup, but we strive to capture the speed and energy of a small, nimble team. This reduction in force affected 12% of Ava Labs and allowed us to reallocate resources to double down on the growth of our firm and the Avalanche ecosystem,” said the CEO of the firm.
The Ava Labs executive also said that it is hard to navigate through a bear market while adding that the firm is “fortunate to have significant runway and resources at our disposal,” and these resources will be used to advance the Avalanche ecosystem for years to come.
According to data from LinkedIn, Ava Labs has close to 335 employees, which means that around 40 people were impacted by the layoff. The firm’s vice president of growth and strategy, Garrison Yang, stated that the majority of the layoffs came from the firm’s marketing team.
Interestingly, in an October 6 post on X, former game growth marketing team member Zach Manafort, who was a very active member in the Avalanche community in 2020, revealed that he was laid off. The layoff came as a surprise for Manafort, who thought “things were just getting started.”
As reported earlier by BitcoinWisdom, Ava Labs and Amazon’s AWS have entered into a partnership “to accelerate enterprise, institutional, and government adoption” of Avalanche. Additionally, the firm behind Avalanche hired executives from Polygon and OKX to expand its presence in India. Devika Mittal and Kamakshi Arjun have joined the firm’s local team, which now includes five people.