100 Thieves Announces Downsizing and Rebranding
Popular esports organization 100 Thieves recently announced that they will be downsizing and rebranding. The company has decided to let go of approximately 20% of its employees in an effort to adapt to the evolving industry. This affects Juvee, the company’s energy drink, and the game development studio.
Impact of Esports Franchising Era
During the esports franchising era, the company witnessed tremendous growth in its esports business and brand, and they were able to make investments beyond their core operations. However, as the economic landscape changed over the last two years, their business did not keep pace with the growth of their organization. Said John Robinson COO of the company.
Shift to 80 Thieves and Focus on Core Business
Now 100 Thieves will be rebranded as 80 Thieves and will be focusing primarily on their esports teams, merchandise, and social media content creation. On the contrary, Juvee, the energy drink, will separate within the next three months, and the video game studio will immediately separate from the company, which leaves many questions about the projects that are currently in development.
The board of directors of 100 Thieves has committed to keeping the community informed with updates regarding the company’s current status in the coming months.
History of Staff Reductions
Remarkably, this announcement reflects the third instance of staff reductions within 100 Thieves in less than two years. The initial reduction took place in January when they had to make the difficult decision to lay off 30 employees, and this was followed by another round of layoffs in July 2022, which resulted in the elimination of over a dozen jobs.
Employee Perspectives on the Changes
While these are undeniably challenging and uncertain times for the organization, it’s important to note that some employees perceive these measures as a potential relief. They believe that these necessary adjustments will allow the company to redirect its focus and resources toward its core areas, which they consider to be of utmost importance for the overall growth and sustainability of the company.
It is expected that there will be better people in the company with these measures, and jobs will soon return.
Image by: ShirocoTV via Reddit
