You're fired! ConsenSys now confirms it will cut 13% of its staff

06 Dec, 2018 | Updated: 06 Dec, 2018
by Joeri Cant
You're fired! ConsenSys now confirms it will cut 13% of its staff

According to Coindesk, the blockchain startup ConsenSys, the ethereum production studio, confirmed today that they are letting go of 13% of its staff.

Just yesterday Chepicap reported that Joseph Lubin, Ethereum co-founder and CEO of ConsenSys sent out an announcement to the 1,200 employees at ConsenSys, informing them about the restructuring of the company, in order to ensure its long-term survival.

Lubin wasn't willing to confirm potential layoffs resulting from the announced restructure.

'Some of them will shrink, some of them will grow. There’s nothing I want to say concretely about that at this point.'

Related: ConsenSys CEO Joseph Lubin sent email to 1200 employees, layoffs might be looming

However, today, the company confirmed that they are letting go of 13% of its staff.

'Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members.'

Not long after the announcement, a Reddit user, going by the username, 'GotCannedTA', posted the following message:

'I was just let go from ConsenSys, AMA'

'I'll let this gather some questions and will reply in batches until sometime tomorrow. Will try to get to everyone. Need to ask people to be respectful - a lot of other people lost their jobs today, there's no need to make the event more stressful'

I was just let go from ConsenSys, AMA from r/ethtrader

Some expressed concern in regards to the future of the company, wondering if the house is on fire, ready to collapse.


Reddit user responded in kind saying that ConsenSys is far from a house on fire and that the layoffs were reasonable.

'The company is finding it's footing and may soon hit it's stride' he added.

Those unfortunate to have been axed by ConsenSys, might consider applying at Ripple, a company that is considered to be a great place to work at. Just saying.

Related: 96% of Ripple’s staffs say their work environment is “superb”

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Read more about: Ethereum (ETH)

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