Ethereum [ETH] – Ethereum Development Studio ConsenSys to lay off 13% of its staff in the new corporate strategy

The "crypto-winter" bites hard. Several startup blockchains, as well as miners, had to close their doors to wait for the market to collapse or as an exit strategy. The rest had to restructure to survive.

Consensys, the famous Ethereum development studio founded by Ethereum co-founder, Joseph Lubin, is one of those companies that are undergoing a restructuring to survive the difficult times of the crypto-land. In the last announcement made Thursday, December 6, the company will let go 13% of its more than 1,200 employees distributed in more than 50 startups.

During the past week, ConsenSys rumors have had a lot of rumors about an imminent restructuring.

Last Friday, Lubin sent an e-mail describing his vision for the company after the restructuring called ConsenSys 2.0. In the email, Lubin wrote that in the last four years he has been:

"Good enough to do interesting projects," but now we are moving forward "we will focus much more strictly between the different lines of business on responsibility, which includes financial sustainability".

"We will declare projects as a" learning success "more quickly and we will dissolve them, allowing their elements – technology, technologists and entrepreneurs – to return to the sea of ​​potential and rebuild in another project with the benefit of greater experience ", he added.

These redundancies have come at a time when the price of the ether has shrunk to its annual lows amid cryptic winter. In the last 24 hours, Ethereum [ETH] it has lost 15% of its value and is currently selling at $ 85 (according to Coinmarketcap). The cryptocurrency has lost almost 60% in the last three weeks and over 90% in the course of the year.

Considering that ConsenSys is funded internally, mainly by Lubin, which is the largest holder of the Ethereum currencies, this move could be a way to reduce expenses that are amplified by the decline in the price of the ether. According to Lubin, ConsenSys 1.0 allowed the construction of "an instrumented laboratory to prove that the moon existed".

Now that he feels he has demonstrated this, the next phase will involve the construction of "an aerodynamic rocket ship to take us there, since the actual evidence, ultimately, is in the landing."