The Company Behind This Altcoin Reduces Employees in Bear Market

Protocol Labs, the company behind Filecoin (FIL), stated that it will reduce the number of employees, citing the decline in the crypto money market and the macroeconomic situation.

CEO of Porotocol Labs Juan Benet In an announcement published on its official website on February 3, the company said that in the difficult process it is going through, able to stand the number of employees within the scope of the measures taken for 21% of to your post to end, to stop He said they would have to.

Benet to high interest rates, to low investment And to a more competitive environment causative inflation global companies and industries that you shake expressed. macroeconomic challenging environment effects of crypto winter Stating that the company has increased its to reduce costs He also underlined that you are trying.

In the announcement, the company’s various business lines in total 89 people of the dismissal will be affected from this decision when Filecoin whether the team is affected information not provided.

US-based cryptocurrency exchange Bittrex He also stated that some of his employees will be laid off. Many institutional crypto actors during the crypto winter costs in the reduction strategies downsize their team remained in the situation.

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