Software Developer ConsenSys to Reduce Workforce by 11%

Software developer ConsenSys has just confirmed it has decided to cut around 11% of its staff, a measure that will affect 96 employees.

According to the company founder Joseph Lubin:

“The current bear market has coincided with a very challenging macro environment driven by rising inflation, lagging economic activity and increased geopolitical unrest.”

Now, ConsenSys will focus its business on “core value drivers” including the MetaMask wallet and Infura platform.

Lubin has added:

“Some of the unscrupulous participants in the CeFi segment have incurred retribution, which has left a shadow on our ecosystem that we will all need to deal with. But in the end it will become a positive factor.”