ConsenSys Confirms Layoffs, Projecting 13% of Staff at Startups to Be Cut

ConsenSys, the ethereum production studio, is letting go 13 percent of its staff, according to a company announcement published Thursday and confirmed to CoinDesk by company officials.

The move comes on the heels of an announced “re-focusing of priorities” at the Joseph Lubin–funded venture studio.

As the company said Thursday:

“Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members.”

In an interview with CoinDesk earlier this week, Lubin indicated that some projects would see their staff counts shrink amid a wider pivot toward what he called “ConsenSys 2.0.” The developments were first detailed in an email sent to staffers late last week. 

“Projects will continue to be evaluated with rigor, as the cornerstone of ConsenSys 2.0 is technical excellence, coupled with innovative blockchain business models,” ConsenSys said in its Thursday statement.

Photo Credit: Michael del Castillo