Blockchain software firm ConsenSys announced that it will layoff 11% of its workforce to adjust to challenging and uncertain market conditions in a blog post.
ConsenSys’ CEO Joseph Lubin said that the 96 employees being laid off will receive “extensive support and generous packages as they transition to their next journey”.
This includes severance packages based on tenure, an extended option exercise window from 12 months to 36 months, personalised support from an external placement agency and more.
Moving forward, ConsenSys will focus on a MetaMask end-user and developer platform that provides the digital authority foundation for people to build on, access, and use Web3.0.
It will also be focused on Infura’s developer platform to help scale and enable developers to build out the blockchain application economy.
ConsenSys added that it will be pursuing innovative new offerings for developers and creators in the Web3.0 ecosystem.
Joseph Lubin
Lubin wrote,
“In streamlining the company we held in mind two goals: reducing operating expenses while increasing the strength and focus of our product teams. The product teams will continue to grow and we will continue to empower them with the right resources.
Our efforts in 2023 will continue to focus on scaling our core offerings and building new crypto-native revenue models. We will continue to invest strategically in growth areas and new opportunities.”
