Ledger to cut 12% of its workforce

The hardware-wallet maker Ledger will undertake staff optimisation due to “macroeconomic headwinds”. CEO Pascal Gauthier сообщил in a letter to staff.

The layoffs will affect 12% of the workforce. According to the senior executive, the decision was made “to ensure the business’s long-term viability”.

“Macroeconomic headwinds constrain our ability to generate revenue, and in response to current market conditions and business realities we must reduce roles in the global business,” the statement said.

According to LinkedIn, the company employs more than 900 people. The headquarters are in Paris and Vierzon, with offices in London, New York, and Singapore.

In June 2021 Ledger raised $380 million, and in March 2023 Ledger announced the expansion of the Series C funding round. The round was valued at €1.3 billion.

Earlier the manufacturer introduced a new Ledger Stax device. Tony Fadell, the former head of the iPod development and release department at Apple, participated in its creation.

In August, Ledger announced PayPal integration, which will allow users in the United States to buy cryptocurrency using a PayPal account.