Avalanche Builder Ava Labs Lays Off 12% of Team

Ava Labs, the blockchain-development firm behind the Avalanche blockchain, laid off 12% of it team, founder, Emin Gun Sirer said on X Monday.

"Today we parted ways with some of our Ava Labs team members," said Sirer. He said Ava Labs is no longer a 12-person startup, but will "strive to maintain to capture the speed and energy of a small, nimble team."

Sirer highlighted Ava Labs is "fortunate to have significant runway and resources at our disposal, and we will be focusing those resources on advancing the Avalanche ecosystem for years to come."

OpenSea Layoffs

Layoffs at Ava Labs layoff comes after NFT marketplace OpenSea announced it's slashing 50% of its workforce less than a week earlier.

This decision was made to make operational changes and focus on building a more nimble version of OpenSea.