Layoffs hit 100 Thieves, TSM

Another day, another round of layoffs in esports.

Layoffs hit esports organizations TSM FTX and 100 Thieves on Wednesday as more companies in the esports and gaming industry find ways to tighten their belts during these turbulent financial times.

I can confirm that at least 23 people at LA-based esports organization 100 Thieves have been laid off.  Multiple sources close to the situation speaking on background told me that the number is considerably higher, somewhere north of 30+ employees. The layoffs were described as being “spur of the moment” and caught everyone affected off guard (if you want to hire some of these people, you can learn more here).

A TSM spokesperson declined to comment on rumors that the company has laid off more than 20 employees when asked to confirm or deny rumors, but we know of at least one person who has been laid off. This news related to TSM follows an announcement by the Riot Games’ League of Legends Championship Series (LCS) that it has fined TSM CEO Andy Dinh $75K USD for bullying and abusing employees. Dinh has been fined, has been put on probation for two years, and must undergo executive management and sensitivity training according to Riot’s announcement. 

The 100 Thieves layoffs appear to be focused on the social media/content creation team, according to multiple social media posts of those that have been affected. I reached out to 100 Thieves this afternoon but the organization did not respond at the time of writing. Those layoffs include Kevin Rygg, Joe Bereta, Yurie Sato, Olivia Margarita Gastaldo, Shelby Paine, Chris Luong, Damian Lopez, Austin Quon, Loyd Riceman, Crystal, Alec Daughtry, THWACKIFY, Billy Rayfe, Blackbeard, Brevax, CyPhlux, Mike Aransky, Damon Gonzalez, Arya-Jan, Joseph Forghani, Megan Sirijariyavat, Christopher Martinez, and Patrik Coyne. so far. On a related note Tim Mulligan, who exited 100 Thieves recently, has been hired by XSET as its new head of sales.

It’s been a tough couple of weeks for the esports/gaming industry; layoffs have hit Australian esports organization ORDER, InvenGlobal, and games retailer GameStop’s gaming magazine Game Informer in recent days and we fear that there are more to come...

Editor’s note: This story has been updated multiple times with additional information on people affected by 100 Thieves layoffs.