Benzinga - Ava Labs, the company behind the popular blockchain platform Avalanche (CRYPTO: AVAX), has announced a reorganization that resulted in a 12% reduction of its workforce.
This move, detailed by Emin Gün Sirer, the founder and CEO of Ava Labs, is part of a broader strategy to harness the company’s agility and increase its focus on expansion during a turbulent market period.
As Ava Labs realigns its focus, the timing coincides with the forthcoming Benzinga's Future of Digital Assets conference on Nov. 14. The conference aims to explore the trajectory of digital assets, with companies like Ava Labs at the forefront of the conversation, navigating through the complexities of the current financial climate.
This restructuring equates to around 40 employees departing from Ava Labs, based on the company’s listed workforce on LinkedIn, signaling a considerable contraction for the firm.
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Despite the downsizing, Sirer expressed gratitude to those who have contributed to the firm’s journey and the Avalanche ecosystem, highlighting the significant strides the team has made in the industry.
In a statement, Garrison Yang, Vice President of Growth and Strategy at Ava Labs, acknowledged the last day for many members of their "all-star marketing team."
He praised the impacted personnel for their achievements, including the launch and growth of gaming initiatives on Avalanche and the hosting of their summit event.
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