TSM layoffs leave company with only 8 remaining employees, claims former Head of Social

TSM layoffs leave company with only 8 remaining employees, claims former Head of Social
Image via TSM

Written by 

Sascha Heinisch

Published 

30th Jan 2024 14:00

One of the formerly largest brands in North American League of Legends, Team SoloMid (TSM) appears to be down to less than 10 active employees. The organisation let go of its Head of Global Social Duncan "Dunc" Cox, who shared insight into his situation on Twitter.

Shrinking of TSM’s workforce continues

 

After a five-year stint at TSM, Dunc announced his departure from the esports organisation on Monday, citing that he has been let go with his Slack and Email address cut immediately. On his socials, he explained his situation and the workplace structure that he had been working under.

"As the team around me was cut and I inherited more responsibilities, and with only 9 people left working on TSM, I didn’t expect to be next," Dunc shared

Cox is one of many TSM employees who have been let go over the past year, allegedly cutting down its members of staff from over 100 to these eventual eight.

A fall from grace

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Just in March of 2022, Forbes ranked TSM as the most valuable esports organisation, estimating the organisation to be worth $540 million. Just half a year later, TSM terminated its sponsorship agreement with FTX amid the crypto exchange's downfall due to a series of financial and managerial crises.

In a statement regarding their stance on the FTX situation, TSM assured fans and claimed to be "built on a solid foundation" that had "forecast profitability for this year, next year and beyond," despite losing out on the remainder of the reportedly $210 million name rights deal.

In May 2023, Team SoloMid announced its departure from the North American LCS, ending its long stint as a top organisation in the region. Citing their ambition to win the World Championship, founder and CEO Andy "Reginald" Dinh stated that the TSM brand would be moving to another region, a move that has yet to materialise.

TSM signed a Rocket League team as late as January 24, implying that the company is not looking to retract from esports at large just yet. It's currently still fielding competitors in CS2, Fortnite, Apex Legends, and Smash Bros.

Sascha Heinisch
About the author
Sascha Heinisch
Sascha "Yiska" Heinisch is a Senior Esports Journalist at GGRecon. He's been creating content in esports for over 10 years, starting with Warcraft 3.
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