[ad_1]
The Ethereum ConsenSys development study is about to lay off about 13% of its workforce, the company announced via a post published Thursday.
The move, which the company officials have confirmed according to Coindesk, arrives only a few days after the company's founder, Joseph Lubin, told all the employees that the company needed to redirect their priorities while looking at ConsenSys 2.0 to optimize their operations and remain competitive.
Lubin, in a letter from the entire company, told the staff that the restructuring process would include cutting projects that do not add value to the company, even though he said it was possible that some of the more than 1,200 employees would be affected as a result of falling projects.
On Thursday, the company announced the job cuts saying:
"Excited about ConsenSys 2.0, our first step in this direction has been difficult: we are rationalizing different parts of the business including ConsenSys Solutions, spokes and hub services, leading to a 13% reduction of members of the mesh".
In his previous speech to company staff, ConsenSys' chief executive said there will be a major change in strategy, and explained that although the company would try to maintain its entire team, some projects would have was more likely to be influenced by the company's pivotal towards the implementation of ConsenSys 2.0.
Apart from a potential reduction in the number of workers assigned to specific projects, more emphasis would be on value, with projects that are rigorously evaluated on the basis of efficiency, also on responsibility "technical excellence, together with innovative blockchain business models. "
A Reddit user, apparently among 13% to let go, took some time to conduct an AMA that revealed that they had been fired because they had not transformed the growth potential into real profits.
The alleged "former" employee, who does not seem displeased at all, says that writing could have been on the wall after all (for resizing). He cites a "town hall" style meeting that made it clear that such an eventuality was possible.
As mentioned in the TNW, the former anonymous employee states that:
"Prior to this, the writing may have been on the wall as a result of internal communications on spending breaks following the decrease in the price of ETH."
The market crisis could be a significant factor in the moves of various companies to downsize staff. In addition to ConsenSys, Steemit, a content-sharing platform has reduced the workforce by 70 percent to avoid being sucked into the collapse of prices.
In just four years, ConsenSys has seen tremendous growth and currently has several offices spread all over the world.
At present, there are more than 50 companies in the development study, and Forbes estimates that the company burns about $ 100 million in the year.
disavowal: This is not an investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.
Source link
