Ava Labs, the developer of the blockchain Avalanche, has just announced the layoff of 12% of its staff.
According to the company, the measure aims to "reallocate resources" to "double down on the growth of our firm and the Avalanche ecosystem."
Emin Gün Sirer, CEO and founder of the company, has explained:
"This reduction in force affected 12% of Ava Labs."
He has not specified which units of the company have been affected by the layoffs. However, Ava Labs' vice president of growth and strategy, Garrison Yang, has said that they have been laying off marketing specialists.
He has said:
"These people helped Avalanche cope with numerous industry downturns, bear markets and many other challenges."
Ava Labs launched AvaGPT, an artificial intelligence chatbot based on OpenAI technologies, in June.