Blockchain analytics firm Nansen has laid off 30% of its staff

Nansen has committed to working tirelessly with its remaining staff to provide the highest quality of service to its clients and the creation of the greatest working environment in the cryptocurrency industry.

A major layoff announcement was made recently by Nansen, a notable company in the blockchain technology business. There has been much conjecture about the motivations behind the 30% reduction in blockchain data analytics businesses since the news broke.

Alex Svanevik, CEO of the blockchain analytics platform, tweeted that the layoffs were necessary due to causes beyond the company’s control. He also said that the corporation had a hard time deciding how many people to let off.

Alex pointed to two key factors as explanations for Nansen’s staff decrease. To begin with, management has seen the light and realised the need of streamlining internal processes and honing in on core competencies in order to maintain competitiveness in an ever-evolving sector.

The CEO made a similar point, saying that the necessity for layoffs was caused by the brutality of the crypto markets this past year. Although the firm has made significant efforts to diversify its income streams through its institutional clients, its cost base has remained high relative to the present health of the firm. In addition, Nansen has seen a drop in income as a consequence of falling demand for its products and services.

It’s important to note that management did not make the choice to lay off workers without considering the consequences. The corporation is certain that this choice will prove to be beneficial to its survival in the years to come. Alex pointed up an interesting fact, namely that those whose jobs are being cut as a result of the company’s personnel reduction would be granted severance compensation and career transition aid.

With the remaining staff, the firm is committed to providing excellent customer service and creating the most desirable job environment in the cryptocurrency industry.

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