Beyond the top, The Guard shuts down as esports layoffs spread
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Beyond the Summit (BTS), a leading esports production company and facility, has announced that it is laying off all of its staff. This comes shortly after mainstream sports-backed esports organization The Guard announced it would do the same. These layoffs signal that even major esports companies are feeling the chill of the esports winter.
Beyond the Summit was founded around 2012 as a passion project driven by the love of the esports community. Over 11 years, BTS has professionalized and become a top tournament organizer and production company, especially in the Dota 2 and Smash Bros communities. More recently, the company has branched out to support creator-run events.
BTS are known for their unique style, often focusing on a laid-back or intimate atmosphere rather than a more traditional stage setup. Thanks to this, BTS has become a key player in esports. Despite their status, BTS is the latest victim of the esports winter as layoffs mount.
"Based on our current financial outlook and the difficulty of the next year, we have decided that it would be irresponsible to maintain BTS in its current structure. Thus, after nearly 11 years of activity, we have made the extremely difficult decision to let all of our staff go," BTS co-founder David "LD" Gorman said in a statement.
EventGamesBeat Summit 2023
Join the GamesBeat community in Los Angeles on May 22-23. You'll hear from the brightest minds in the gaming industry to share their updates on the latest developments.
register hereGorman claimed that Beyond the Summit has closed now so as not to leave its staff out in the cold. BTS will keep all full-time staff on the payroll for the next 2 weeks and will offer severance and medical coverage to US employees through the end of April. BTS also released a list of the 27 affected employees to help them find new positions.
While many esports companies have accepted venture capital funds, Beyond the Summit has not done so despite investor interest according to Gorman's statement. BTS valued being local and independent, with an emphasis on serving the community.
Beyond the last Summit event, there will be the next Smash Ultimate Summit 6 to be held March 23-26.
Support for traditional sports is drying upLast week,
Connect with the top leaders in gaming in Los Angeles during GamesBeat Summit 2023 on May 22-23. Register here.
Beyond the Summit (BTS), a leading esports production company and facility, has announced that it is laying off all of its staff. This comes shortly after mainstream sports-backed esports organization The Guard announced it would do the same. These layoffs signal that even major esports companies are feeling the chill of the esports winter.
Beyond the Summit was founded around 2012 as a passion project driven by the love of the esports community. Over 11 years, BTS has professionalized and become a top tournament organizer and production company, especially in the Dota 2 and Smash Bros communities. More recently, the company has branched out to support creator-run events.
BTS are known for their unique style, often focusing on a laid-back or intimate atmosphere rather than a more traditional stage setup. Thanks to this, BTS has become a key player in esports. Despite their status, BTS is the latest victim of the esports winter as layoffs mount.
"Based on our current financial outlook and the difficulty of the next year, we have decided that it would be irresponsible to maintain BTS in its current structure. Thus, after nearly 11 years of activity, we have made the extremely difficult decision to let all of our staff go," BTS co-founder David "LD" Gorman said in a statement.
EventGamesBeat Summit 2023
Join the GamesBeat community in Los Angeles on May 22-23. You'll hear from the brightest minds in the gaming industry to share their updates on the latest developments.
register hereGorman claimed that Beyond the Summit has closed now so as not to leave its staff out in the cold. BTS will keep all full-time staff on the payroll for the next 2 weeks and will offer severance and medical coverage to US employees through the end of April. BTS also released a list of the 27 affected employees to help them find new positions.
While many esports companies have accepted venture capital funds, Beyond the Summit has not done so despite investor interest according to Gorman's statement. BTS valued being local and independent, with an emphasis on serving the community.
Beyond the last Summit event, there will be the next Smash Ultimate Summit 6 to be held March 23-26.
Support for traditional sports is drying upLast week,
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