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Thursday, November 30, 2023

100 Thieves is shedding 20 p.c of its employees because it focuses on ‘core’ of esports and attire

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One other massive esports model is making some main adjustments. 100 Thieves, which already introduced layoffs in January, is shedding extra employees and spinning out its inner sport improvement studio and its Juvee power drink, 100 Thieves president and COO John Robinson mentioned in a Thursday thread on X (formerly Twitter). The cuts affect roughly 20 p.c of the corporate’s staff and primarily have an effect on Juvee and the sport improvement studio, Robinson tells The Verge. (Robinson wouldn’t verify a particular variety of staff affected.)

“In the course of the esports franchising period, we noticed large development in our esports enterprise and our model and have been lucky to have the ability to make investments past that core,” Robinson wrote on X. “Because the financial panorama has modified during the last two years, the expansion of our enterprise didn’t maintain tempo with the expansion of our group. We can not afford as massive of a company as earlier than and that accountability falls on me and Matt.”

Transferring ahead, 100 Thieves will deal with its esports groups, attire, and on-line content material, Robinson said in another post. Juvee might be spun out over the subsequent three months, whereas the sport improvement studio might be spun out instantly, Robinson tells The Verge. (The X account for Challenge X no longer exists on the platform; 100 Thieves introduced the sport in June 2022.) On X, Robinson promised that “we’ll share extra updates on these companies over the approaching months.”

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