Community Gaming Layoffs: What Happened & Why?

On April 14, 2023, Community Gaming laid off 17 employees, representing 0.17% of its workforce. This move has raised concerns within the company.

Headquartered in New York City, Community Gaming operates in the Crypto industry. The layoffs reflect broader challenges in the sector, impacting various companies.

Why did Community Gaming have Layoffs?

Community Gaming decided to lay off 17 employees due to the economic downturn in the esports industry and broader struggles across the competitive gaming sector. The company aims to restructure its goals for a stronger future.

• Economic downturn in esports: The industry has faced significant financial challenges, impacting revenue streams.
• Broader struggles in competitive gaming: Many organizations in the sector are experiencing similar difficulties, leading to a need for cost-cutting measures.
• Restructuring for future growth: The company is realigning its goals to ensure long-term sustainability and success.

Company Statement

“With the economic downturn in the esports industry, we've had to restructure our goals in order to have a stronger future, which came with some roles being eliminated,” Gonsalves told Decrypt. “We appreciate the contributions of all our employees and will support them as they continue to be innovators in the space.”

The statement from Community Gaming's CEO, Chris Gonsalves, highlights the necessity of the layoffs due to the economic challenges facing the esports industry. The company is focusing on restructuring its goals to ensure long-term sustainability. This move, while difficult, is seen as a step towards securing a more robust future for the organization.

Impact on Workforce and Industry

The reduction of 17 employees at Community Gaming has inevitably affected its workforce, leading to a leaner operational structure. Specific roles or departments impacted have not been disclosed, but the layoffs are likely to influence various facets of the company's daily operations and strategic initiatives.

Recently, other companies in the competitive gaming sector, such as FaZe Clan and 100 Thieves, have also announced layoffs. These industry-wide trends reflect the broader economic challenges and financial pressures facing the esports industry.

Looking Ahead

The layoffs at Community Gaming signify a pivotal moment for the company, marking a transition towards a more streamlined and focused operational strategy. This move is intended to position the company for future growth and stability.

• Increased focus on core competencies: The company plans to concentrate on its primary strengths to drive innovation and efficiency.
• Investment in new technologies: Community Gaming aims to adopt cutting-edge technologies to enhance its platform and user experience.
• Strategic partnerships: The company is looking to form alliances with key industry players to expand its reach and capabilities.

Get Started with Sunset Today!

Sunset helps startups wind down by handling all the legal, tax, and operational burdens, allowing founders to avoid penalties, reduce liabilities, and move on quickly. For personalized guidance and support, contact us to schedule a consultation or learn more. Don't wait—sign up today and try it out!