Consensys Cuts Jobs to Combat Economic Pressures 💼
Consensys, a prominent entity in the Ethereum blockchain sector, has announced a substantial reduction in its workforce, amounting to a 20% cut, which translates to approximately 162 job losses. This move is a response to ongoing economic challenges and increasing regulatory pressures, particularly from the United States.
Joseph Lubin, the founder and CEO of Consensys, addressed the situation, explaining that these layoffs are a necessary step to ensure the company's sustainability amid a challenging economic landscape.
The significant reduction in staffing underscores the broader difficulties facing companies within the cryptocurrency and blockchain industry as they navigate complex regulatory environments and economic uncertainties.
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