Inven Global has not officially released a statement regarding the layoffs or its closure, but Matthiesen was previously employed by the outlet until announcing the news today. The news of the layoffs was also confirmed by the publication’s Editor in Chief, Radoslav Kolev.

Inven Global launched its publication in 2016 and has provided B2C coverage of the esports industry across multiple titles, most notably within the League of Legends scene.

Details about the future of the outlet have not been disclosed. However, Mattheson’s post highlighted that Inven Global is “closing its doors.” Esports Insider has reached out to Inven Global for comment. 

It comes at a tumultuous time for the esports industry, as well as the wider economy. Investor sentiment and global markets have taken a hit as a mix of factors — including the COVID-19 pandemic and Russia’s ongoing invasion of Ukraine — have led to fears of an economic downturn.