ConsenSys announced plans to reduce staff

ConsenSys announced plans to cut costs and lay off 100 employees. In total, more than 28,000 jobs have been lost in the crypto industry since April last year. According to independent sources, ConsenSys employs about 900 people. It is assumed that the planned reduction will be at least 10% of the state. According to an unnamed source at ConsenSys, technical procedures are in the process of being finalized, so the exact number of job cuts has not yet been determined and may exceed previously announced plans. ConsenSys Becomes Another Cryptocurrency Company to Announce Massive Employee Layoffs. Over 28,000 jobs have been lost in the crypto industry since April last year, according to CoinDesk.. According to industry experts, the ongoing crypto winter is forcing companies in the sector to curb their growth ambitions, significantly reduce operating costs and cut staff in an attempt to stay afloat. In the first decade of the new year alone, in addition to ConsenSys, five more large cryptocurrency companies announced the upcoming staff reductions.. Among them are the NFT marketplace SuperRare, which is laying off 30% of its staff, cryptocurrency exchanges Coinbase and Huobi, with a plan to reduce staff by 20%, as well as crypto lender Genesis Global Trading and cryptocurrency bank Silvergate Capital – 30% and 40%, respectively.