Tags: layoffs

Chainalysis Lays Off Another 150 Employees Amid Ongoing Market Downturn

Epic Games Trims Workforce by 16 Due to Unrealistic Metaverse Revenue Projections

Crypto Infrastructure Provider Qredo Slashes Staff, Cuts Annual Expenses by 35 – Bear Market Continues?

Blockchain Analytics Firm Nansen Cuts 30 of Staff Amid Market Slump

In a virtual press conference, Meta‘s Executive champions Metaverse as the future, despite Meta’s pivot to AI.

CEO Marcus Swanepoel is moving into a new role as executive chairman, and COO James Lanigan has been promoted to CEO.

The firm said that U.S. regulatory uncertainty played a role in its decision.

The business was launched just 11 months ago.

Some employees are still in place and the firm’s operations are ready to launch, but money is a problem, said a person familiar with the situation.

The job cuts follow a previous 22 workforce reduction in November.

During the bull market of 2021, Affirm had joined a number of fintech firms in offering clientele the ability to buy and sell crypto.

The company cited the current economic situation and crypto winter as the reasons behind its decision.

CEO Richie Lai cited the “new economic environment” as the primary reason for the cuts.

The cuts will reportedly affect less than 5 of Chainalysis‘ staff, or about 40-50 people.

The cost-cutting measure comes after a rocky start to 2023 for the Vegas-based company.

Gemini has been swept up in the problems of crypto lender Genesis Global Capital, with which it partnered on an interest-earning product.

A total of 97 employees, or 11 of the workforce, will be affected, according to a blog post by the CEO.

The number of layoffs at the Hong Kong crypto exchange was not specified.

The company is shedding 110 staffers in a bloody week of layoffs across the crypto sector.

The job cuts come a day after the company said it would be “reducing costs and driving efficiencies” amid a challenging environment for crypto companies.

As a bear market sweeps the industry, CoinDesk is keeping a running list of industry players that have cut jobs.