Why is 100 Thieves laying off so many employees?

The world’s second most valuable esports team is reportedly laying off approximately one-sixth of its employees. It appears that the reasons for the mass layoffs are economic.

According to esports journalist Jacob Wolf, the popular gaming, e-sports and lifestyle brand 100 Thieves laid off about 30 employees on Tuesday, Jan. 10.

Collective layoffs

The layoffs affect jobs in sales, marketing, content, and human resources, including senior positions such as:

• Matty Lee, chief revenue officer
• Katy Chapel, vice president of account management and integrated marketing
• Nichele Dudley, vice president of IT
• Amber Fonts, chief people officer
• Bailey Heidhues, director of talent
• Frank Door, director of the post-production
• Alex Salamunovich, director of production operations
• Hillary Gilmore, director of facilities Rowena Dy, and head of partnerships

Some comments

Matty Lee posted the layoff Tuesday morning on their LinkedIn page:

“After nearly 4.5 absolutely incredible, challenging, and rewarding years, my time at 100 Thieves comes to an end today. I’m grateful to have been a small part of helping nurture and grow a brand that has a real opportunity for generational staying power. That’s a once-in-a-lifetime opportunity that most people never get.”

Although 100 Thieves has not disclosed the total number of employees, an estimated 200 people work at the company. That means the 30 or so people represent between 14 and 17 percent of the company’s workforce.

In a Reddit post on Tuesday, 100 Thieves president and COO John Robinson commented:

“Tough day today for us; we needed to downsize the organization a little bit. We’re in a challenging economic climate, and like all sports (and esports) organizations, sponsorships are a major part of our business.”

“Juvee and Higround are healthy and growing, but partnerships are still our biggest source of revenue – the support of our sponsors pays for all our esports and content and a lot of the fun stuff we get to do. We have a new CRO joining tomorrow and have a lot of strong new partners in our pipeline. More than ever, we appreciate all the support for the org, our staff, and our sponsors.”

Did 100T run out of money?

Although the 100 Thieves have had major collaborations, such as with fashion house Gucci in July 2021, that doesn’t seem to be enough to pay so much staff. The players get a lot of money, the content creators too, plus important figures like the coach and the rest of the organization. If the profits and the money from big collaborations are missing, the money runs out quickly. However, it is not yet clear whether this actually happened.

About 100 Thieves

100 Thieves is a professional esports organization and lifestyle brand founded in 2017 by Matthew “Nadeshot” Haag.

The organization has teams that compete in various esports leagues and competitions, such as Call of Duty League, League of Legends Championship Series, and Valorant Champions Tour. The organization also produces and sells apparel and other items. The company is headquartered in Los Angeles, California.

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