100 Thieves is laying off 20 percent of its staff as it focuses on ‘core’ of esports and apparel

Another major esports brand is making major changes. 100 Thieves, which already announced layoffs in January, is laying off more staff and spinning off its in-house game development studio and energy drink Juvee, said 100 Thieves President and COO John Robinson . in a Thursday thread on X (formerly Twitter). The job cuts affect about 20% of the company’s employees and primarily affect Juvee and the game development studio, Robinson said. The edge. (Robinson did not confirm the specific number of employees affected.)

“During the esports franchise era, we have seen tremendous growth in our esports business and brand and have been fortunate to be able to invest beyond that core,” Robinson wrote about. “As the economic landscape has changed over the past two years, the growth of our business has not kept pace with the growth of our organization. We can’t afford an organization as big as before and that responsibility falls on me and Matt.

Moving forward, 100 Thieves will focus on its esports teams, apparel and online content, Robinson said in another post. Juvee will be split up over the next three months, while the game development studio will be split up immediately, Robinson said. The edge. (Account X for Project no longer exists on the platform; 100 Thieves announced the game in June 2022.) On X, Robinson promised that “We will share more updates on these companies in the coming months.”