Joseph Lubin’s cryptocurrency enterprise has undergone a recent personnel rearrangement, according to recent reports.
In the last two years, Consensys has reduced its workforce by 38% amid institutional turmoil, legal battles, and macroeconomic setbacks.
Further Restructuring Efforts
According to Tuesday’s Bloomberg report, the company behind the MetaMask wallet will reduce its workforce by 7%, or 49 people, in an effort to increase profitability. A spokesperson of the company confirmed that the move is a shift in priorities, following the firm’s acquisition of Web3Auth.
CryptoPotato covered the last restructuring by Consensys, which affected 20% of the workforce, or approximately 160 employees. The cited reason at the time was the US Securities and Exchange Commission (SEC)’s “abuse of power.”
Before that, there was another reduction in staff numbers, affecting 11% of the employee count, or 96 people, due to uncertain market conditions.
It appears that the easing condi
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