{"id":18183,"date":"2024-10-29T18:50:00","date_gmt":"2024-10-29T16:50:00","guid":{"rendered":"https:\/\/forklog.com\/en\/consensys-to-reduce-workforce-by-up-to-20\/"},"modified":"2024-10-29T18:50:00","modified_gmt":"2024-10-29T16:50:00","slug":"consensys-to-reduce-workforce-by-up-to-20","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/consensys-to-reduce-workforce-by-up-to-20\/","title":{"rendered":"ConsenSys to Reduce Workforce by Up to 20%"},"content":{"rendered":"<p>ConsenSys, the developer behind the non-custodial wallet MetaMask, is set to lay off approximately 160 employees as part of a business optimization effort, according to the company&#8217;s founder and CEO, Joe Lubin.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">1\/5 <\/p>\n<p>The broader macroeconomic conditions over the past year and ongoing regulatory uncertainty have created broad challenges for our industry, especially for US-based companies.<\/p>\n<p>\u2014 Joseph Lubin (@ethereumJoseph) <a href=\"https:\/\/twitter.com\/ethereumJoseph\/status\/1851253503064244707?ref_src=twsrc%5Etfw\">October 29, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He cited unfavorable macroeconomic conditions, regulatory uncertainty in the US crypto industry, and the costs of <a href=\"https:\/\/forklog.com\/en\/news\/sec-takes-legal-action-against-consensys\">legal battles<\/a> with the Securities and Exchange Commission (SEC).<\/p>\n<p>Nevertheless, Lubin described the company&#8217;s financial position as stable.\u00a0<\/p>\n<p>According to him, ConsenSys will focus on core revenue drivers in line with its previously adopted strategy. The firm&#8217;s flagship products, MetaMask and the Ethereum Layer 2 network Linea, will serve as the foundation for further development.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;To remain competitive, we need to transform to become more agile, efficient, and even more productive,&#8221; Lubin stated.<\/p>\n<\/blockquote>\n<p>He described the decision to reduce the workforce as &#8220;difficult but prudent.&#8221; It will affect about 20% of the staff. In an interview with <a href=\"https:\/\/fortune.com\/crypto\/2024\/10\/29\/consensys-layoffs-ethereum-lubin\/\">Fortune<\/a>, the entrepreneur clarified that this involves 162 out of 828 employees, impacting all departments.<\/p>\n<p>Back in June, ConsenSys <a href=\"https:\/\/forklog.com\/en\/news\/sec-concludes-investigation-into-ethereums-status\">successfully ended<\/a> an SEC investigation regarding Ethereum&#8217;s potential status as a security.<\/p>\n<p>However, a counterclaim against the regulator&#8217;s complaint was dismissed in September.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ConsenSys, the developer behind the non-custodial wallet MetaMask, is set to lay off approximately 160 employees as part of a business optimization effort, according to the company&#8217;s founder and CEO, Joe Lubin. 1\/5 The broader macroeconomic conditions over the past year and ongoing regulatory uncertainty have created broad challenges for our industry, especially for US-based [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,246,1548],"class_list":["post-18183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-consensys","tag-joseph-lubin"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18183"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18182"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}