Web3 fantasy sports platform Sorare will lay off 35% of its employees.

PANews November 21 news, Raphaël Bloch, co-founder and editor-in-chief of Big Whale, revealed in a post on the X platform that the Web3 fantasy sports platform Sorare will cut 35% of its staff. An internal announcement confirmed the layoff plan, stating that 35 out of approximately 100 employees will be leaving, and its co-founder and CTO Adrien Montfort will step down from operational duties. Sorare CEO Nicolas Julia responded to this by stating that he has decided to “accelerate the process of achieving profitability,” and believes that this restructuring will “simplify the company structure and shorten the decision-making process.” He acknowledged that this initiative is “difficult to implement, but very necessary.” Sorare has previously launched a significant austerity plan and migrated to the Solana platform, which could generate up to $10 million in revenue. Julia insists that the company can return to growth in 2025 and achieve profitability “by the end of 2026.”