Team Genesis was 260 members strong and laid off 20% in round I.
The second round saw a 30% cut in round II, bringing the team to 145.
Silvergate Capital laid off nearly 40% of its workforce.
The ongoing crypto winter and ‘black swan’ events such as the Terra ecosystem collapse and FTX saga have made the crypto industry endure many difficulties, weaker players have already left the arena, and the stronger ones are barely keeping it together. The latest news in the series is that Genesis has cut its 30% workforce in their second layoff round to cut costs amid an ongoing downtrend.
A spokesperson from the company confirmed that:
“As we continue to navigate unprecedented industry challenges, Genesis has made the difficult decision to reduce our headcount globally.”
A person familiar with the matter said Genesis eliminated about 30% of its workers, taking it down to 145 employees. Genesis previously cut 20% of its workforce of 260 in August.#follow for more interesting…#Cr
We współpracy z: https://www.thecoinrepublic.com/2023/01/06/genesis-cuts-30-workforce-in-second-round-layoff-industry-under-pressure/
