Ava Labs, a leading developer of the Avalanche blockchain, has recently announced the reduction of its workforce by 12%.
The company’s CEO, Emin Gün Sirer, confirmed this news in a statement on X, where he expressed his commitment to the company’s agility and growth.
In his message, Sirer highlighted the importance of maintaining the speed and energy of a small, agile startup, even though Ava Labs no longer fits this description.
Today we parted ways with some of our Ava Labs team members. We are no longer a 12 person startup, but we strive to capture the speed and energy of a small, nimble team.
This reduction in force affected 12% of Ava Labs, and allows us to reallocate resources to double down on the…
— Emin Gün Sirer🔺 (@el33th4xor) November 7, 2023
Ava Labs: Reallocate resources to focus on Avalanche growth and development
The announcement comes at a time when the cryptocurrency market is in a period of uncertainty, with significant price volatility.
However, Sirer expressed confidence in Ava ability to navigate the challenges of bear markets.
He highlighted that the company has substantial resources and a clear path forward, allowing them to focus on advancing the Avalanche blockchain in the coming years.
Meanwhile, Brandon Suzuki, an employee who worked in Ava Labs’ marketing department, also confirmed his impact on the wave of layoffs on October 6.
The inclusion of employees from different departments in the personnel reduction indicates that the measure affected multiple areas of the company
While the CEO’s statement does not specify in which departments the staff cuts were made, it has been reported that the majority of the layoffs affected employees in the company’s marketing department.
Sirer’s message also included a thank you to everyone who has contributed to Ava Labs and supported the growth of the Avalanche ecosystem.
He acknowledged the significant progress and impact the company’s team has had on the cryptocurrency industry.
