Staff Cuts Hit IGC’s Immortals

Key insights

5 slides

Staff reductions

Immortals implemented staff layoffs on February 15, 2023.

The esports organization, a subsidiary of Immortals Gaming Club (IGC), conducted a round of staff reductions. The exact number of affected employees remains unconfirmed.

Driving factors

Industry-wide downsizing is driven by economic and financial challenges.

These conditions necessitated cost-cutting measures.

It's like a company tightening its belt when the economy gets tough and investors become more cautious with their money.

Root Causes. Industry-wide downsizing is being driven by a turbulent global economy, diminishing revenue, and reduced capital availability due to investor concerns.

1 / 5

Ask AI about this article

Summary

In February 2023, the esports organization Immortals implemented a round of staff layoffs. While the exact number of affected employees remains unconfirmed, the cuts were publicly acknowledged by several individuals seeking new employment. Executives at Immortals Gaming Club (IGC), the parent company that also oversees the Los Angeles Valiant, MIBR, and Gamers Club, declined to provide specific details regarding the scale of the reductions or whether other divisions within the IGC ecosystem were impacted.

The layoffs at Immortals reflect a broader trend of contraction within the professional gaming industry during early 2023. Organizations across the sector faced significant operational challenges driven by a turbulent global economy, diminishing revenue streams, and a decline in available capital due to heightened investor caution. This environment necessitated cost-cutting measures at numerous prominent entities, including FaZe Clan, TSM, Team Liquid, 100 Thieves, and Riot Games, among others.

The scope of this development is centered on the North American esports market, specifically impacting the operations of Immortals, which maintains active rosters in the League of Legends Championship Series, the North American LCS Academy, and Valorant. The information is based on industry reporting and public disclosures from affected personnel, highlighting the ongoing financial instability facing many organizations in the competitive gaming landscape during this period.