Ava Labs Axes 12% of Staff to “Double Down on Growth”

  • Ava Labs has laid off a part of its workforce.
  • The CEO confirmed the development and shared positive sentiments.
  • Most job cuts came from one department.

Based on current Bitcoin bullish trends and select altcoins rally, market signs indicate that crypto winter is likely fading and that spring is possibly near the horizon. Nonetheless, most crypto-focused firms are still grappling with the effects of the long-lived winter.

One such firm is Ava Labs, the main developer of the Avalanche blockchain. On November 6, some of the company’s employees took to Twitter (X) and announced that they had been laid off, a report that Ava Labs Founder and CEO Emin Gün Sirer confirmed a day later.

CEO Confirms Job Cuts

In the early hours of November 7, Sirer wrote a long message on Twitter, issuing clarifications after media outlets started reporting about the layoff.

According to the CEO, Ava Labs team has shrunk by 12% after the company decided to lay off some members. Sier noted that the company would “strive to capture the speed and energy of a small, nimble team” to reallocate resources and double down on its growth, as well as that of the Avalanche ecosystem.

Although Sier hinted that bear markets could have driven the move, the CEO quickly exuded his confidence in Ava Labs after the layoff.

“Bear markets are difficult to navigate. Ava Labs is fortunate to have significant runway and resources at our disposal, and we will be focusing those resources on advancing the Avalanche ecosystem for years to come.” Sirer said.

One thing the CEO wasn’t clear about is the number of affected departments. But Ava Labs Vice President of Growth and Strategy Garrison Yang had something to say about it.

Through his official Twitter account, Yang averred that most job cuts had affected numerous employees within the company’s marketing division.  

Brandon Suzuki, another employee who worked at the company’s marketing division, also confirmed that he was affected by the October 6 layoff.

Read more about the Avalanche-AWS partnership earlier in the year:
Avalanche Partners with Amazon Web Services, AVAX Rallies 25%

Stay updated on why Chainalysis recently laid off 15% of staff:
Chainalysis Lays Off 15% of Staff Amid Market Doldrums

Source link: https://dailycoin.com/ava-labs-axes-12-of-staff-to-double-down-on-growth/




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