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Nonfungible token collection and technology firm Dapper Labs has announced its third round of staff layoffs in less than a year.On July 13, Dapper Labs CEO Roham Gharegozlou announced that the firm has said goodbye to “51 brilliant colleagues and friends.”In a note to employees, he said that the latest
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"To maintain our strong balance sheet, Circle is redoubling its focus on core business activities and execution,” a spokesperson for Circle told CryptoX in an email. “As a result, we have reduced or ended investments in non-core activities and reduced operational expenses which includes a marginal reduction in headcount. At
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The company, whose customers use the platform to trade stocks, options and crypto, made cuts as it adjusts to a slowdown in customer trading activity, the WSJ said. The number of active traders had dropped to fewer than 11 million in May, down from a peak of 21 million a
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Several Wall Street Banks, including Goldman Sachs, have cut their outlook on growth in China as the economy struggles. Leading global investment banking and management firm Goldman Sachs has joined several Wall Street banks to reduce its growth outlook for China. This downgrade comes as the East Asian powerhouse is experiencing
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“As part of this transition, and because of our preparation for a multi-year and very costly litigation process, the Board has asked Management to shrink the size of our teams across the company and reduce our burn rate,” read the documents. “Unlike every other U.S. crypto company, we have been
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Considering the tight market conditions, Nio has also put its expansion plans on hold for the time being. It has stopped any additional incentive programs such as free battery swaps for new users. In the latest development on Monday, June 12, Chinese electric carmaker Nio announced cutting the prices of
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In addition to the series of layoffs, Spotify was forced to cancel 11 original podcasts from its in-house studios including ‘How to Save a Planet’, ‘Crime Show’, and ‘Medical Murders’. Music streaming platform Spotify Technology SA (NYSE: SPOT) has announced plans to cut its workforce by 2% leaving up to 200 employees
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Nansen has promised to work assiduously with its remaining team to ensure they provide the best services to their customers as well as build the best workplace in crypto. Nansen, a leading startup in the blockchain technology industry, has recently announced a significant reduction in its workforce. The news of the
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Despite the cuts, the company still has several years of runway as it looks to build a sustainable operation, Svanevik said. The company has raised a total of $88.2 million over four funding rounds over the years, led by crypto investment firms such as L1 Digital and Old Fashion Research,
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Indian retail giant Reliance JioMart has begun its layoff plan, which is expected to last several weeks and impact 10,000 employees. Reliance Retail’s versatile online shopping platform JioMart recently began a mass layoff, which could affect up to 10,000 workers. This week reports state that JioMart had already laid off 1,000 employees,
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