ConsenSys fires 11% workforce

[Yugocean]

ETH software company and parent company of Metamask ConsenSys has fired 11% employees because of market conditions.

What you think about it?

 

[Magnus2022]

Cryptocurrency and related products is in real bad situation. Many companies are going bankrupt or slipping into extinct. The pandemic and Russia- Ukraine war have disrupt economic chains. On the other hand, price of crude oil been on rise without abating

 

[Yugocean]

Cryptocurrency and related products is in real bad situation. Many companies are going bankrupt or slipping into extinct. The pandemic and Russia- Ukraine war have disrupt economic chains. On the other hand, price of crude oil been on rise without abating

Now all companies are down, but centralized crypto companies are on their own because crypto is decentralised.

 

[uptrendfinancialsignal]

The rate at which companies are laying off their workers is very alarming and I think it is also result of the global meltdown.

 

[gammarays]

The bear season is not a good time for most crypto currency platforms. Revenue is dwindling at a fast pace so brands are looking for a way to cut cost which includes sacking workers.

 

[uptrendfinancialsignal]

The bear season is not a good time for most crypto currency platforms. Revenue is dwindling at a fast pace so brands are looking for a way to cut cost which includes sacking workers.

The profit that the cryptocurrency exchange are making right now is reduced and they will tend to lay off workers.