Esports organization Ninjas in Pyjamas reportedly lays off all staff in Sweden, moves operations to Abu Dhabi

It has been reported that legendary Swedish esports organization Ninjas in Pyjamas (NIP) has let go of all of its employees based in Sweden as it moves the remainder of its operations to the United Arab Emirates, marking the end of an era.

The details:

• According to Swedish news outlet Expressen, all of the organization's employees in its home country of Sweden have received dismissal notices as of April 9. It's said that the decision is part of a full relocation of the company's operations to Abu Dhabi, where its global headquarters is currently located.
• The move to Abu Dhabi is said to be a part of a major financial deal worth up to 440 million SEK (roughly 47.1 million USD) over five years with the government of the UAE. The organization’s continued investment into cryptocurrency, specifically Bitcoin, has also remained a core part of its business strategy outside of esports and requires significant resources to go ahead.
• In a statement issued to Expressen, company CEO Hicham Chahine said, "We are currently reviewing certain parts of our operational structure as part of our broader international activities.” However, the executive explained that the process is still “ongoing” with no decision set in stone as of yet.