100 Thieves confirms layoffs as its game studio and energy drink brand become independent
Esports organization 100 Thieves has confirmed that job cuts will be made as the company announces the separation of its Juvee energy drink brand and Project X game development studio.
The details:
100T COO John Robinson announced the changes on X, stating that the company is committed to delivering its original "promise" to fans, namely providing "championship esports, great content, and an apparel brand they are proud to wear." This includes completely disconnecting its Juvee energy drink brand and its Project X game development studio from the organization, allowing both to operate independently.
Robinson also confirmed that the move resulted in a downsizing across the three brands, later confirming to The Verge that around 20% of its workforce had been let go, with the majority of those employees involved in Juvee and Project X. It's unclear how many core 100T employees have been let go, but longtime graphic designer Seso and social media head Micah Kulish confirmed via X that they were among those leaving.
100T, founded in 2017 by former professional Call of Duty player Nadeshot, has had a difficult couple of years, laying off dozens of employees in 2022 before announcing further layoffs in January 2023, which saw several executive-level employees let go. Many organizations have downsized due to a lack of funding in the post-COVID economy, with some, such as Copenhagen Flames, closing their doors entirely.
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