Coinspeaker
Circle Reduces Staff and Non-Core Projects to Strengthen Balance Sheet
Circle has announced the laying off of some of its staff. The USDC issuer noted that it reduced or ended investments in some non-core activities and reduced its operational expenses in some quarters. This resulted in a slight reduction in its workforce. Consequently, it noted that the staff cut would allow it to maintain focus on core business activities and execution.
“At the same time, we have identified new areas for investment and are continuing to hire in key areas of focus on a global basis,” the company said.
However, the layoff comes after Circle’s Chief Financial Officer Jeremy Fox-Geen shared the company’s plan to increase employee numbers. Mr. Fox-Geen noted to the Wall Street Journal that the USDC issuer was working to increase its total headcount by 15% to 25% by the end of the year.
Circle Reducing Its Staff to Focus on Core Mission
Equally important, Circle has pivoted its efforts
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