According to sources familiar with the matter, the stablecoin issuer Paxos is cutting 20% of its workforce. This development comes on the heels of Paxos International’s announcement of its yield-bearing stablecoin. Paxos Trims Workforce by 20% Bloomberg reports that Paxos has laid off 65 employees, which accounts for 20% of its staff. The information was […]
The Nigerian fintech startup, Chipper Cash, recently abolished the roles of 20 workers based in the U.S. and U.K. The CEO Ham Serunjogi said this decision aligns with its goal of maintaining high operational efficiency and moves the startup closer to profitability. Layoffs Set Chipper Cash on Course for Positive Cash Flow in the First […]
Recently, Ebay, the e-commerce behemoth, implemented significant changes within its Web3 division. These changes resulted in a 30% reduction in the division’s workforce and the departure of a pivotal employee. Among those affected by this restructuring is David Moore, the founder of Knownorigin, a marketplace for non-fungible tokens (NFTs), whose post is redundant. Ebay’s Dedication […]
The Nigerian fintech startup, Paystack, will be scaling down its operations outside Africa. In addition, Paystack will part ways with at least 33 employees based in Europe and the United Arab Emirates. Co-founder Shola Akinlade has promised to help affected employees secure new roles elsewhere. ‘Localizing Costs and Getting Closer to Customers’ The payments …
Opensea recently retrenched an unknown number of employees as part of what the CEO Devin Finzer describes as a rebuilding exercise. According to the CEO, taking this step helps Opensea build a foundation which enables it to innovate faster. Smaller Team With Direct Connection to Users Opensea, one of the largest non-fungible token (NFT) marketplaces, […]