Stablecoin issuing company Paxos has laid off 20% of its workforce, decreasing its employee count by 65 individuals, Bloomberg reported Thursday, citing an internal email.
According to the report, Paxos’ chief executive officer and co-founder Charles Cascarilla said the reduction in headcount would allow the company to capitalize on future opportunities in the tokenization and stablecoin sectors. Paxos intends to phase out some of its services to focus on tokenization and stablecoins.
Paxos Sacks 65 Employees
The stablecoin issuer offered the affected individuals three months of subsidized health insurance and outplacement support, 13 weeks of severance pay, and a two-year extension to exercise vested options. In addition to the separation offer, employees on a quarterly incentive program will receive second-quarter bonuses, while people with approved parental or medical leave will receive certain payments and benefits.
Due to the job cuts, Paxos’ headcount now hovers between 200 a
We współpracy z: https://cryptopotato.com/paxos-reportedly-downsizes-workforce-by-20-details/
