As a seasoned analyst with over two decades of experience in the tech industry, I’ve seen my fair share of restructurings and downsizing. It’s never easy news to deliver or receive, but it’s often a necessary step for companies to stay competitive and sustainable in the long run.
ConsenSys, a leading Ethereum development firm, has made public their decision to let go of approximately 20% of their staff members, which translates to over 160 employees.
In a social media update, CEO Joseph Lubin referred to the significant job cuts as a “difficult yet cautious move.
According to Lubin, the workforce reduction is intended to help the Ethereum developer achieve long-term stability even in unpredictable situations.
He expressed heartfelt appreciation for the significant role they played in bringing ConsenSys to its current state, and he pledged to extend generous assistance to every employee impacted during this transition period, as they embark on their new journeys.
Affected employees will be offered substantial severance deals, assistance with job placement, and continued healthcare coverage.
According to U.Today, ConsenSys is currently involved in a legal dispute with the U.S. Securities and Exchange Commission. A Texas judge previously dismissed their own lawsuit against the agency back in September. Now, they must face the SEC’s lawsuit, which pertains to the MetaMask wallet.
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2024-10-29 16:51