Ledger cuts 12% of staff
The CEO and chair of Pascal Gauthier announces the firm will be cutting its staff by 12% in an Oct. 5 blog post citing the “longevity of the business.” The letter was sent to all employees, and reshared on the company’s public blog site in the interest of transparency. Macroeconomic headwinds This announcement comes despite Ledger being one of the only companies to raise capital in the first half of this year. However, the post goes on to explain the impact of the market on their own business, stating, “Macroeconomic headwinds are limiting [the company’s] ability to generate revenue, and in response to the current market conditions and business realities, we must reduce roles across the global business.” While difficult, Gauthier also cites that bear markets, such as the one the crypto market is currently facing, is an opportunity to strengthen the business. You might also like: Ledger partners with PayPal to enhance Bitcoin, crypto purchase Weathering the bear mar...