ConsenSys has confirmed an 11% cut in staff

In a statement, ConsenSys confirmed that it had terminated the employment of 11% of its workforce.

According to a statement written by the company’s founder, Joseph Lubin, the corporation would concentrate “business on the fundamental value drivers.”

The blockchain software startup ConsenSys has terminated the employment of around 11% of its workforce.

According to a statement released by the company on Wednesday, 96 workers were impacted by the round of layoffs, which confirms rumours from the previous week.

According to ConsenSys’s creator, Joseph Lubin, “our present bear market also coincides with a very tough macroeconomic climate fueled by increasing inflation, declining economic growth, and growing geopolitical upheaval.”

According to another statement made by Lubin, “Some of the badly behaved CeFi players in our space have brought a reckoning on themselves, which has thrown a wide pall over our ecology, which we will all need to work through.” In the long run, this will have a favourable impact on the surrounding ecology.

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