Nova Labs layoffs — Oct 26, 2024

Nova Labs cuts 36% of workforce on Oct. 26 as it shifts focus to Helium Mobile

Nova Labs, a Web3 company behind the Helium network, cut 36% of its workforce on Oct. 26, 2024, as part of a restructuring tied to a strategic shift toward Helium Mobile. The company did not disclose the number of jobs eliminated.

The layoff was described as a restructuring move. No additional details were provided in the source about severance, affected teams, or whether the reduction was permanent beyond the stated workforce percentage.

Nova Labs is best known for building the Helium crypto network, which has expanded into mobile connectivity through Helium Mobile. The company’s latest move suggests it is concentrating resources on that product direction as it reorganizes its operations.

No direct quotes from company officials were included in the source material. The company has not publicly disclosed a further timeline for the restructuring or any additional workforce changes.

Sources: Google News