Consensys Cuts Hundreds of Jobs This Year – About 25% of Its Staff Slashed

Ethereum-based company Consensys has cut hundreds of jobs since January. In its latest action, the US-based blockchain development team confirmed it will slash more than 90 jobs – or 14% of its workforce – citing the global impact of Covid-19.

The decision comes after a virtual town hall meeting on April 20, reports say. The number of employees sacked at Consensys this year now runs into a few hundred, following another round of dismissals in February. Then, 14% of the staff were sent home.

In a statement, Consensys said it is rebalancing its priorities and re-evaluating timelines in light of the uncertainty brought into the market by the pandemic. “In such an environment, we must make changes to conserve resources and ensure our continued ability to support our customers, drive innovation, and serve the broader ecosystem,” the Joseph Lubin-led company said.

The firm, whose global team features software developers, security experts, lawyers, entrepreneurs, and others, will…