VALORANT company Nerd Street Games has laid off 25 percent of its employees after informing them about the impending layoffs.
Tournament organizer and esports events company Nerd Street Games has laid off 25 percent of its employees after informing them about the impending layoffs on Wednesday, January 18, sources told The Esports Advocate. Recently, many casters of previously held tournaments have come forward with concurrent issues related to payments. That castors are not being paid due to unbalanced budgets is a growing concern.
The Philadelphia-based company, which hosts online and offline events nationwide in several sports, is still struggling to pay outstanding money to valorant players and talent from multiple events during 2022. If you need more information about Major NA VALORANT tournament organizer cuts staff amidst continued late payment issues then read carefully and don’t forget to share with your friends.
Some people who confirmed being evicted by Nerd Street have noticed speed/speed. Worked in graphics design, eSports operations and production. Earlier this month, Sportsluma reported that several professional players and broadcast talent members had been waiting for months for Nerd Street to send payments for events held within and outside the Valorant Champions Tour ecosystem. Some had been waiting for more than half a year for payment, and some players and organizations still owe thousands.
When complaints surfaced about late payment issues in December last year, Nerd Street CEO John Fazio said the company was trying its best to pay everyone as soon as possible, citing “issues with partners” and a small amount of “cash on hand” due to the FTX crash.
Nerd Street signed a partnership deal with the now bankrupt cryptocurrency exchange in February 2022.The organisers of the Valerant Champions Tour (VCT) Phase 3 – Challengers SEA tournament have pledged to distribute prize money to all participating teams by January next year following complaints of overdue payments.
Just yesterday, NA Valorant Castor Ethan “Sully” Tran said on Twitter that he had not been paid even after five months, to which some other NA Valerant professionals responded that they too were still awaiting payment. Earlier this month, Fazio told The Esports Advocate that Nerd Street expects “all [Fragadelphia] payments to be caught by next month.” He also said they are “working with Reuters on a proposal for VCT.”Riot opted to go with a different organizer at the Knights Arena to host the main NA Valerant competition in 2023.