Yesterday Ethereum development studio ConsenSys said it plans to lay off 14% of its staff in response to the Coronavirus pandemic, according to a report from ConsenSys-backed Decrypt.
CEO and founder Joseph Lubin delivered the news at an all-hands remote Zoom meeting after exploring other options. “I consulted numerous people both inside and outside of the company. I pursued conversations with potential investors. I reviewed government assistance programs. I explored ways to collaborate with other projects in the ecosystem,” said Lubin.
It follows a February restructuring in which the investment side of ConsenSys was split from the core. ConsenSys now focuses on blockchain infrastructure and tools, as well as a consulting division for enterprise blockchain. At that stage, there was a 14% reduction in headcount after cutting 13% in 2018.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
