Ava Labs Confirms 12% Workforce Layoff, Focuses on Resource Reallocation
Summary:
Ava Labs, the company behind Avalanche Blockchain, validated reports of laying off 12% of its workforce to reallocate resources. Ava Labs CEO, Emin Gün Sirer confirmed the news. LinkedIn data suggests approximately 40 people were affected, primarily from the marketing team. Despite the difficulty of finding jobs in the current crypto industry, some experts anticipate a slight increase in hiring due to the potential talent pool available when market conditions improve.
Ava Labs, the organization behind Avalanche Blockchain, recently confirmed that it made the decision to layoff 12% of its workforce. The move is seen as necessary to enable better resource allocation. On November 7, Emin Gün Sirer, both founder and CEO, officially confirmed these layoffs after a number of former staff members made it known that they had lost their jobs. He emphasized that the employee cutbacks equate to 12%, but it would enable the company to better focus its resources to enhance the success of Avalanche.
The company now employs 335 people based on LinkedIn records, indicating that about 40 employees were affected by the layoffs. Significant layoffs were reported in the marketing department. Meanwhile, Zach Manafort, an ex-employee of the game marketing team, confirmed separately that he is among the employees who were laid off. He had been a committed part of the Avalanche community since 2020.
While unexpected, Manafort appreciates the growth experiences gained during his time with Ava Labs. He is open to exploring opportunities in marketing or operations. He leaves the company with his love for these fields intact.
Additionally, Brandon Suzuki, who worked in the same marketing unit with Manafort also confirmed that he lost his job on October 6. Basically, Avalabs decided to downsized the company just a few days after OpenSea, a nonfungible token marketplace, made a 50% staff cut around November 3.
Neil Dundon, CryptoRecruit's founder, told Cointelegraph that finding job openings in the crypto industry remains challenging due to the recent increase in the crypto market cap. He believes there needs to be more indications of a bull market before there's any noticeable increase in employment.
Conversely, Cryptocurrency Jobs and Proof of Search co-founders, Kevin Gibson and Daniel Adler consider the recent increase in hiring as a positive sign for the industry. They attribute this trend to the fear of losing out on the potential talent pool when market conditions improve in 2024. Additionally, some of the available positions are part-time roles requiring two or three workdays per week. As the year draws to an end, companies are making their final recruitment efforts and following through on their hiring plans.
Published At
11/7/2023 4:06:50 AM
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