This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Ava Labs, the developer behind the Avalanche blockchain, has announced a workforce reduction of approximately 12%. The decision was made in response to the challenges posed by the current bear market conditions. While specific details about the affected departments are limited, it is suggested that a significant portion of the layoffs may have come from the marketing team. Former employees have started sharing their experiences, with one former member of the game growth marketing team disclosing that he was among those laid off. Despite the downsizing, the price of the Avalanche token (AVAX) remained relatively unaffected. Ava Labs recently expanded its business operations in India, hiring two former employees from Polygon and OKX. The company remains optimistic about its ability to advance the Avalanche ecosystem, citing its substantial resources and runway. It will be interesting to see how Ava Labs navigates the challenges and opportunities ahead, especially in light of these recent personnel changes.