Fighting game competition circuit Beyond The Summit announced Monday that it is laying off its staff and shutting down after more than 11 years as a community-built and driven fighting game circuit. The announcement was made by co-founder David “LD” Gorman.Â
Gorman said that employees were informed of the decision at an all-hands meeting Monday and that “BTS will be keeping all full-time staff on payroll for the next 2 weeks.” Staff will be given two weeks severance, and “additional severance based on their time with the company.” The company added that it will continue to pay for healthcare for U.S. employees until April.Â
Gorman said in a statement that, given the state of the economy and financial challenges, the company came to this decision so as not prolong and protract the situation, and to maintain the good reputation of BTS. He also noted that a spreadsheet with contact information and links to resumes is being put together and will be released for potential employers once employees sign off on it (note: you can look through that list here).
“Based on our current financial outlook, and how challenging the next year looks, we’ve decided that it would be irresponsible to keep BTS going in its current structure. So, after nearly 11 years in business, we’ve made the extremely difficult decision to let all our people go.
“All of our full-time staff were notified at an all-hands meeting earlier today. We felt we owed it to the community, our friends, and our partners to share our story, but we would like to kindly ask that everyone give our people some time and space to process the news in their own way.”
You can read Gorman’s full statement here.
This is a developing story…Â