ConsenSys CEO Joseph Lubin Layoffs Up To 60% of its Employees

[fitload]

Ethereum co-founder Joseph Lubin and CEO of blockchain startup ConsenSys — recently laid off 50-60% of his workforce to cut costs, but insists that 2019 looks very promising.

Citing a source familiar with the matter, the Verge reports that ConsenSys is spinning out startups it previously backed, some of them without financial support. This will reportedly impact the ConsenSys’ workforce, especially its internal incubator Consensys Labs.

ConsenSys operates a startup incubator called ConsenSys Labs that is believed to be home to around 36 startups, with each employing between 5 and 50 staff.

The report comes after a ConsenSys letter to staff, in which the company announced its plans to streamline and toughen its business style amid an increasingly “crowded” competitive blockchain space.

According to the report, ConsenSys representatives did not...

Read More: https://bitzamp.com/consensys-ceo-joseph-lubin-to-layoff-up-to-60-of-its-employees/

[Bolasodok86]

this is very good and I really hope that the company will grow further, and I think with that development it will be able to build a large company and many employees.