CryptoAU

Immutable Layoffs

July 2022

Immutable announced a layoff affecting 20 employees (6% of its workforce) in July 2022. The company operates in the Crypto sector.

People Affected

Percentage

Announced Date

Jul 26, 2022

About

Australian crypto gaming startup Immutable, valued at $3.5 billion, laid off at least 20 employees on July 26, 2022, affecting about 6% of its workforce. The cuts primarily impacted senior staff with core knowledge of its flagship NFT trading card game, Gods Unchained, effectively gutting the project's development team. The layoffs were announced during a company-wide meeting, with affected employees offered the chance to apply for other internal roles, though these were reportedly unsuitable. This move reflects broader contractions in the crypto and NFT industry, following similar workforce reductions at major firms like Coinbase and OpenSea, as the sector recedes from its 2021 highs.