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

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

Based on Bitcoin’s strong bullish trend and the rising prices of several other cryptocurrencies, market signs suggest that crypto winter may be over and spring may be slowly approaching. However, most crypto-focused companies are still facing the effects of the long winter.

One of them is Ava Labs, the main developer of the Avalanche blockchain. 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.

According to the CEO, the Ava Labs team has shrunk by 12% after the company decided to lay off some members. 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.

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 a large number of resources and networks at its disposal, and we will focus these resources to develop the Avalanche ecosystem over the next few years.” Jazz said.

The chief executive did not specify the number of departments 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.

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

General Bitcoin News



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