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Ava Labs CEO Emin Gün Sirer however stressed the firm is well-positioned with significant runway and resources at its disposal. Ava Labs, the team behind the Avalanche Blockchain, has confirmed it laid off 12% of its employees in a recent wave of staff cuts, citing the need to reallocate its resources. The firm’s founder and CEO Emin Gün Sirer confirmed the news on Nov. 7 after several former Ava Labs employees announced on X (formerly Twitter) they had been laid off. “This reduction in force affected 12% of Ava Labs, and allows us to reallocate resources to double down on the growth of our firm and the Avalanche ecosystem,” Gün Sirer said. Gün Sirer acknowledged that bear markets can be tough to navigate but iterated Ava Labs is well-positioned with significant runway and resources at its disposal. Today we parted ways with some of our Ava Labs team members. We are no longer a 12 person startup, but we strive to capture the speed and energy of a small, nimble team. This reduction in...

Key Huobi execs, including Huobi Group CFO Lily Zheng allegedly left the company a few months ago following the new shareholders’ takeover. Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm. “The planned layoff ratio is about 20%, but it is not implemented now,” a spokesperson for Huobi said in a statement to Cointelegraph on Jan. 6. The representative emphasized that the allegations on Huobi firing as many as 40% employees is a rumor. Huobi has established a new organizational structure after the new shareholders have taken over, the spokesperson said, adding that the firm has adjusted the business departments. “With the current state of the bear market, a very lean team will be maintained going forward. The personnel optimization aims to implement the brand strategy, optimize the structure, improve efficiency and return to the top three,” Huobi said. In the statement, ...