Blockchain company Consensys, well known in the crypto community for developing a crypto wallet Dappradar , announced plans to cut more than 20% of its workforce. The firm currently employs 828 people.
The company's CEO and co-founder said that it will soon lay off 162 employees. Ethereum Joe Lubin. He said that Consensys is trying to streamline workflows and speed up decentralization in this way. Another co-founder often mentions this Ethereum Vitalik Buterin .
Our decision is driven by a number of factors, and I think they are roughly equal in weight. The first is the most obvious, but not necessarily more important than the others, and that is long-term financial sustainability in the face of potential economic instability, Lubin explained.
He said Consensys aims to become a "leaner, more agile organization" to better leverage the "broad and deep capabilities the organization has built over its history."
Lubin clarified that no specific department of the company will face more layoffs than others.
We pay a lot of attention to working with Dappradar and the second-layer protocol Linea. Node provider Infura is already undergoing a transformation with DIN, a decentralized infrastructure network, the Consensys CEO said.
Lubin also said all laid-off employees would receive generous severance packages and job placement assistance.
