#Messari lays off 15% of its workforce#
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Overview
Cryptocurrency research firm Messari laid off about 15% of its workforce this week in a move to streamline its operations and focus on the growth of its core product lines. Messari CEO Eric Turner said the adjustment involved streamlining the business and doubling down on the growth of its core product lines. In addition to layoffs, Messari also decided not to renew contracts with some contract workers. Founded in 2018, Messari is a major player in the blockchain research space and was valued at $300 million in 2022. The layoffs are part of a recent wave of layoffs in the crypto industry, reflecting the current crypto market downturn and overall industry contraction.
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Analysis
Cryptocurrency research firm Messari laid off about 15% of its workforce this week, a move aimed at streamlining its business structure and focusing on the growth of its core product lines. Messari CEO Eric Turner said earlier this week that the company made some adjustments to its organizational structure to streamline operations and double down on the growth of its core product lines. Some contract employees' contracts were not renewed, which is common at the beginning of the year. Founded in 2018, Messari is a major player in the blockchain research space and was valued at $300 million in 2022. The layoffs are part of a recent wave of layoffs in the crypto industry, as other crypto companies have made similar adjustments to cope with the crypto market downturn and economic uncertainty.
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Classic Views
Messari laid off about 15% of its workforce, aiming to optimize its business structure and focus on the growth of its core product lines.
Layoffs are a common phenomenon in the industry, and Messari is adjusting its organizational structure to streamline its operations.
Messari's layoffs involve some contract workers, which is relatively common at the beginning of the year.
Founded in 2018, Messari is a leading institution in the blockchain research field, and its valuation reached $300 million in 2022.