ConsenSys cut 11% of staff | CryptoNewsHerald


Software developer ConsenSys has confirmed a cut of around 11% of staff. The optimization affected 96 employees.

Company founder Joseph Lubin listed the factors that influenced this decision.

“The current bear market has coincided with a very challenging macro environment driven by rising inflation, lagging economic activity and increased geopolitical unrest,” he wrote.

Going forward, ConsenSys will focus its business on “core value drivers” including the MetaMask wallet and Infura platform.

“Some of the unscrupulous participants in the segment CeFi have incurred retribution, which has cast a shadow over our ecosystem that we will all need to deal with. But in the end it will become a positive factor,” says Lyubin.

Earlier, the media reported on ConsenSys plans to lay off more than 100 employees.

Recall that last week the cryptocurrency platform announced a 20% reduction in staff. The decision was made amid unfavorable market conditions and “recent developments in the industry.”

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