According to a recent report by Bloomberg, Ledger, a prominent hardware wallet manufacturer catering to crypto investors, has announced a 12% reduction in its workforce as part of a strategic effort to navigate an extended industry downturn.
The decision comes in response to macroeconomic challenges that have hindered revenue generation, prompting the company to prioritize the long-term sustainability of its business.
Market Challenges Force Ledger CEO To Make ‘Difficult Decisions’
Ledger’s CEO and Chairman, Pascal Gauthier, highlighted the need to make difficult decisions in the face of prevailing market conditions. In an email sent to staff, Gauthier acknowledged the impact of macroeconomic headwinds and emphasized the importance of preserving resources for the company’s future. Gauthier further claimed:
Macroeconomic headwinds are limiting our ability to generate revenue. We must continue to make decisions for the longevity of the business
While a Ledger spokesperson confi
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