Ava Labs Confirms Layoffs, Affecting 12% of Avalanche Studio's Employees The Ava Labs cuts, which occurred Monday, have reportedly impacted numerous teams including communications and marketing.
Crypto startup Ava Labs, which supports the Avalanche blockchain network, laid off a substantial portion of its workforce Monday, multiple impacted employees confirmed with Decrypt.
Following the initial publication of this article, Ava Labs founder and CEO Emin Gün Sirer tweeted that the company had parted ways with 12% of its employees, which will allow the firm to "reallocate resources to double down on the growth of our firm and the Avalanche ecosystem." "Bear markets are difficult to navigate," he added. "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."
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