Banks has revealed that FaZe Clan has already trimmed its workforce by 110 employees and intends to further downsize the company during its rebranding process.
In October 2023, GameSquare, the parent company of Code Red Esports and Complexity Gaming, acquired FaZe Clan. Thereby reinstating three original members to positions of authority. Among them was Banks, who ascended to the role of CEO.
Upon assuming the CEO position, Banks outlined his plans to rebrand FaZe Clan, announcing that all existing staff were effectively terminated with his promotion. Subsequently, he confirmed during a podcast that he followed through on this declaration, resulting in a significant reduction in the company’s size.
Downsizing
The workforce at FaZe Clan has dwindled from 140 employees to just 30. With Banks expressing a desire to further reduce this number to 10 in the future. However, Banks isn’t solely focused on reducing staff numbers; he also aims to trim the excess of content creators associated with FaZe Clan.
During the podcast, Banks articulated his disapproval of compensating members to incorporate “FaZe” into their names, stating that such practices are ineffective and undesirable for both parties.
Many members of the community echoed Banks’ sentiments, supporting the idea of scaling back FaZe Clan and returning it to its original essence. Some drew parallels between this strategy and the approaches of Offline TV and 100 Thieves.
Remarks
Commenting on Banks’ vision, one individual remarked, “I understand what he’s getting at. Look at OTV; they’ve managed to endure because they’ve kept the roster small, cohesive, and aligned, which is similar to what he envisions for FaZe here. He wants FaZe to emulate them rather than 100T.”
Despite FaZe Clan boasting numerous content creators, their tenure under the brand may be uncertain if Banks is committed to reducing the organization’s size. Nevertheless, there hasn’t been a widespread departure of FaZe Clan creators at present.