Infinite Esports & Entertainment have reported the lay off of 19 employees plus it’s president, Chris Chaney. As the esports industry is constantly expanding we often forget the costs involved to the organizations that run these teams. An esports team is not just a 5 or 6 member team. Many of the esports organizations run not one but several teams in different leagues. That comes at a cost and if companies can’t bring in dollars to match with their expansions that often means losses.
Infinite is a holding company that owns teams such as: OpTic Gaming and Overwatch League team Houston Outlaws.
The company will retain 70 employees and Chaney will not depart entirely. He will remain involved as cofounder and owner. The position of President has been filled by Ryan Musselman, the former SVP of global partnerships.
When asked the reason for the layoffs, Musselman was quoted as saying “Generally speaking, we think we grew too fast.”
COO Neil Leibman has indicated that he is “very confident about our model and esports in general…..I am positive the recent changes are the right way to move forward for our long-term success in the esports business.”
Only time will tell if Infinite can turn things around.
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