Ava Labs Lays Off Substantial Portion of Staff Amid Crypto Downturn
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Ava Labs, which supports Avalanche blockchain, laid off a substantial portion of staff on Monday. Multiple impacted employees confirmed the cuts.
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The layoffs impacted the communications and marketing teams. The scale is not yet confirmed.
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VP of Growth said cuts affected "many people" in marketing. Another employee said layoffs hit "so many others."
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It's unclear if technical teams were impacted, but by all accounts the layoffs were widespread and surprised employees.
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Cuts seem to be part of a "restructuring" strategy, similar to recent layoffs at OpenSea during the ongoing crypto recession.