Ava Labs lays off 12% of employees to ‘double growth’

Strong price-based upward trend Bitcoin As well as several other cryptocurrencies rising in price, market signs point to winter coming cryptocurrency Maybe it has passed, maybe spring is slowly approaching. However, most crypto-focused companies are still facing the effects of the long winter.

One of the companies is ava labmain developer Blockchain avalanche. On November 6, several employees of the company posted on Twitter (X) that they had been fired, and Ava Labs co-founder and CEO Emin Gün Sirer confirmed the news in an interview the next day.

CEO confirms layoffs

On the morning of early November, Sirer wrote a long post on Twitter, making adjustments after the media began to report the news of layoffs.

The Ava Labs team has shrunk by 12% after the company decided to lay off some members, according to the CEO. Sirer emphasized that the company will “strive to capture the speed and energy of small agile teams,” reallocating resources and doubling down on its growth and ecosystem, Avalanche.

Today, we are parting ways with some of the Ava Labs team members. We’re no longer a 12-person startup, but we strive to capture the speed and energy of a small, nimble team.

The reduction in force impacts 12% of Ava Labs and allows us to reallocate resources to double down on…

— Emin Gün Sirer🔺 (@el33th4xor) November 7, 2023

Although Sier said market weakness prompted the decision, the CEO was quick to express confidence in Ava Labs after the layoffs.

“Market declines are difficult to deal with. Ava Labs is fortunate to have significant resources and networks at its disposal, and we will focus these resources to grow the Avalanche ecosystem over the next few years.” Jazz said.

The CEO did not specify the number of units affected. But Garrison Yang, vice president of growth and strategy at Ava Labs, has something to say about it.

Yang confirmed via his official Twitter account that most of the layoffs affected many employees in the company’s marketing department.

Today is the last day @AvaLabs For many on this all-star marketing team.

If you have a project or company looking for top talent in crypto, please let me know.these are the people who built it @gamingonavax Starting from scratch in less than a year, people brought… https://t.co/ozcBOa78Q6

— Hushky 🔺 (dim/sum) (@0xHushky) November 6, 2023

Brandon SuzukiAnother employee working in the company’s marketing department also confirmed that he was affected by layoffs on October 6.

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