According to ConsenSys: Layoffs did not exceed 13%, affected all staff

22 Jan, 2019
by David Borman
According to ConsenSys: Layoffs did not exceed 13%, affected all staff

Last year Chepicap reported on a series of layoffs that affected ConsenSys, an Ethereum development company. At the time, fears abounded about how far the cuts would go and what the future of the company could be. Now, Cointelegraph is reporting that one of the company's executives is clarifying that only 13% cuts ever occurred, though the layoffs did affect staff in all capacities.

Vanessa Grellet, ConsenSys' Executive Director of Enterprise and Social Impact, explained the layoffs as a "natural movement," more akin to a retructuring at a major financial firm. She blames not so much the actual bear market of 2018 but rather the company itself for growing too fast. She is quoted:

"I’ve been at the company for two years and a half. When I joined it, we were 60, and we grew to a company that has 1,200 employees all over the world. The way we hired people was related to where the opportunities were, projects etc., and we grew a little bit fast."

To add to the sentiment that there is nothing to be concerned about, founder Joseph Lubin also went on the record to state that the company was "healthy," and that they are simply considering a rebalance of priorities moving into 2019.

Whether the company will carry on to implement bigger projects for Ethereum in 2019 or rather continue to downsize remains to be seen. Hopefully a push of new development on the plaftorm, as well as a successful updgrade for Ethereum next month, will help get the coin ans ConsenSys back on track. Until then, stick with Chepicap for all Consensys and Ethereum news!

Read more: Ethereum devs meeting: Constantinople update to be activated in late February

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