(Reuters) – Blockchain technology company ConsenSys plans to cut 11% of its workforce, or 96 jobs, according to a letter from chief executive officer Joseph Lubin on Wednesday.
The job cuts will help reduce operating expenses while increasing the strength and focus of the product teams to “adjust to challenging and uncertain market conditions,” the letter said.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra Eluri)
