CryptoAU

Immutable Layoffs

February 2023

Immutable announced a layoff affecting 0 employees (11% of its workforce) in February 2023. The company operates in the Crypto sector.

People Affected

Percentage

11%

Announced Date

Feb 22, 2023

About

Australian crypto gaming startup Immutable laid off 11% of its workforce in an internal announcement. The company, valued at $3.5 billion last year, cited a need to extend its cash reserves and focus resources on key projects, despite having $280 million in cash. This move follows a reported annual loss and is part of a broader trend of staff cuts in the tech startup sector, influenced by investor caution and a turbulent crypto market.