Cryptocurrency hardware wallet developer Ledger said it is cutting 12% of its workforce, according to a letter to employees from CEO Pascal Gauthier on Thursday.
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- With a total of 734 employees, according to Ledger’s LinkedIn page, the company laid off approximately 88 employees.
- “Macroeconomic headwinds are limiting our ability to generate revenue and, in response to current market conditions and business realities, we must reduce roles within the global business,” Gauthier wrote in a statement. letter to staff members.
- Many other struggling Web3 companies have been forced to downsize. Blockchain Intelligence Firm Chainalysis cuts 150 employees earlier this week.
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