New York-based Blockchain technology developer ConsenSys has laid off around 14 percent of its workforce.
The restructuring at ConsenSys will separate its software development business from its venture activities, the company said in a statement. ConsenSys focuses on the ethereum blockchain, which underpins the world’s No.2 cryptocurrency ethereum.
The cuts would allow it to be better aligned with the needs of a focused software development company,” ConsenSys said in a statement.
The company said the job loss would fall in roles across human resources, finance and marketing, with product teams unaffected. ConsenSys declined to comment on the number of overall job loss.
In December 2018, ConsenSys cut around 13 percent of its workforce, which then totaled over 1000. The firm, which was founded in 2014, operates in around 30 countries, with major offices in London, Dublin and Paris.