FaZe Banks says all FaZe staff are “fired” after becoming CEO

FaZe Clan’s Richard ‘Banks’ Bengtson has said that all FaZe employees are “fired” after becoming the organization’s new CEO.

Banks joined FaZe back in 2013, and it’s fair to say the organization wouldn’t be where it is without his help in transforming what was a Call of Duty sniping and trickshotting clan into the prestigious esports and gaming entertainment brand we know today.

Once valued at a staggering $1 billion, FaZe Clan became a publicly traded company in 2022, listed on the Nasdaq exchange. But, the last few years have been nothing but a bumpy ride for the organization, leading to its share price plummeting — and potentially facing a delisting from the exchange.

However, in October 2023, FaZe had a saving grace, with GameSquare, the owner of Complexity Gaming and Code Red Esports, stepping into a “definitive agreement” to acquire the organization.

FaZe Clan

FaZe Clan was officially listed on the NASDAQ exchange on July 20, 2022.

FaZe Banks plans to fire all FaZe employees after acquistion

The acquisition is finally in its closing stages, with both GameSquare and FaZe stockholders having now approved the merger.

Once the deal is done, FaZe Clan will have Banks take the reigns as the organization’s new Chief Executive Officer, while other long-standing members Temperrr and Apex will be named President and COO respectively.

And while there’s still time to go until they’re back in control, Banks has already outlined his first steps as CEO, stating in a social media post on February 27 that staff will be “fired.”

It isn’t the first time Banks has revealed similar intentions either. Back when the GameSquare and FaZe Clan acquisition was first announced in October, Bengston claimed the first thing he planned to do was “chop” and clear out the organization of its employees.

With that said, we’ll just have to wait and see what happens when the deal goes through, which will see FaZe operate as a wholly owned subsidiary and independent division of GameSquare.