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Ava Labs lays off ‘substantial’ portion of its workforce
Ava Labs founder Emin Gün Sirer confirmed on X that there was a ‘reduction in force’ at the blockchain company, saying that 12% of staff were affected due to the poor market conditions.
Ava Labs founder Emin Gün Sirer confirmed on X that there was a ‘reduction in force’ at the blockchain company, saying that 12% of staff were affected due to the poor market conditions.
R3 slashed the jobs to “maintain a strong operating and financial position” at a time when blockchain funding has dried up as its landmark projects stall.
Apart from the departure of another of its execs, CEO Brian Shroder, Binance.US slashed one-third of its staff, stressing that the move will give it over seven years of financial runway.
Indian digital currency exchange Coinswitch is diversifying its financial products in an attempt to remain afloat, a move initiated following the termination of 8% of its workforce.
Alphabet Workers Union takes legal action against Google and Accenture, alleging violation of federal labor laws following a significant employee contract termination.
KuCoin had dismissed over 300 people amid a trading volume dip, according to reports, but CEO Johnny Lyu says it’s part of a biannual appraisal.
The stock and digital asset trading platform will lay off about 150 people, mostly in customer experience and safety, as meme stock frenzy fizzles out.
Binance undergoes "re-evaluation" of its workforce, cutting down about one-fifth of its total manpower who are either underperforming or might not be "the right cultural fit."
All 50 employees in Disney's metaverse division will see their employment contracts terminated except for the division's head, Mike White, who steered the consumer product unit operations.
Mark Zuckerberg announced another round of massive layoffs, just days after winding down NFT integrations, even as his focus seemingly turns to AI from metaverse.
Only two months since entering 2023, thousands have been laid off in the digital currency industry, but hopes of a bull market remain, though it may not likely be the same as before.
Polygon claims it maintains a healthy cash reserve, stating that the move was an internal restructuring move designed to “crystallize” its strategy for the coming years.