ConsenSys Cuts Staff, Shares Current Focus on Certain Projects

CoinDesk reports that the Ethereum incubator has cut over 90 staff, or about 14% of the company; the news follows layoffs that were announced in February; a spokesperson told CoinDesk, “The global COVID-19 pandemic has deeply impacted the world’s health and livelihood…ConsenSys has carefully analyzed its business in relation to what is occurring globally. Like most of its peers, the company is seeing extraordinary uncertainty in the market, with businesses rebalancing priorities and reevaluating timelines.” The company has also shared their focus on “crisis-related opportunities such as Central Bank Digital Currencies (CBDCs), emergency loans disbursement solutions, supply chains for personal protective equipment (PPE), and related identity solutions.” CoinDesk