Ava Labs, the company responsible for the Avalanche blockchain, has reduced 12% of its employees in a recent round of layoffs.
The CEO of the company, Emin Gün Sirer, confirmed this information on November 7, following announcements from former employees on a social media platform about losing their jobs.
Gün Sirer recognized that navigating through bear markets can be challenging, but he emphasized that Ava Labs is in a strong position, with ample resources and a promising outlook for the future.
Ava Labs, as per its LinkedIn information, currently employs 335 people, and it appears that approximately 40 individuals lost their jobs.
The Vice President of Growth and Strategy at Ava Labs, Garrison Yang, implied that a significant number of layoffs occurred within the company’s marketing department.