Crypto Layoffs: Protocol Labs, Chainalysis and Bittrex are the latest crypto firms to slash jobs
on Feb. 3 stating that the company has had to focus its headcount “against the most impactful and business critical efforts.”
He stated that the company's decision to cut “89 roles,” approximately 21% of its workforce, was to ensure it isBenet suggested that the company must “prepare for a longer downturn,” given it has been an “extremely challenging” time for the crypto industry. Meanwhile Bittrex employees were informed by CEO Richie Lai over email on Feb. 1 that the company has made a reduction to its workforce to “ensure the long-term viability" of the company.via Twitter on Feb. 2, in which Lai stated that despite the leadership team “working aggressively” to reduce expenses and increase efficiencies over the last several months, the efforts have not produced the"results necessary.
Lai added that the market conditions have forced the company to reset their strategy and balance its “investments with the new economic environment.”Related:
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Filecoin Parent Company Protocol Labs Cuts 21% of StaffProtocol Labs, the parent company of Filecoin, is laying off 89 people, or 21% of its staff, citing an 'extremely challenging economic downturn.' HeleneBraunn reports
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Protocol Labs trims 21% of staff in latest round of crypto job cutsCrypto and tech companies have been trimming their workforce and cutting costs across the board in an effort to survive tough times.
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Protocol Labs is laying off 89 peopleThe company that launched Filecoin, one of the biggest projects funded in the 2017 initial coin offering boom, is cutting 21% of its workforce.
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Crypto Exchange Bittrex Laying Off More Than 80 PeopleCrypto exchange BittrexExchange is laying off more than 80 workers because of the challenging economic environment, the company confirmed Thursday. HeleneBraunn reports
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Blockchain Analytics Firm Chainalysis to Cut Jobs in Reorganization.chainalysis will cut jobs as part of a reorganization as it attempts to adjust to new challenges in the crypto industry. By JamieCrawleyCD
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Chainalysis to Dismiss 48 Employees, Prepares to Reorganize StructureThe layoff, which mostly targeted non-core personnel, is due to a decline in private sector demand.
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