The CEO of ConsenSys noted that the company is now financially healthy because of its recent layoffs.
Joseph Lubin is a Canadian-American entrepreneur. In the past, Lubin founded and co-founded many companies including the Swiss-based EthSuisse. Initially, he contributed heavily to the Ethereum blockchain. In the crypto sector, he is known for his company ConsenSys, a private blockchain software technology company which is located in New York City.
On 7 Feb 2023, Joseph Lubin appeared in an interview with Cointelegraph’s Building Blocks 23 event. In the interview, the ConsenSys founder talked about the recent layoff decision of the company.
Joseph said that the company retained its potential to reach future goals despite an 11% reduction in the company’s workforce.
ConsenSys founder noted that the decision to reduce the workforce was taken to maintain the financial position of the company amid critical “macroeconomic and geopolitical” situations.
“There are some pretty concerning things happening still in supply chains, in materials and chips, in VC financing, potentially there’s a lot of dry powder out there, but there’s gonna be a lot of companies going into the market at the same time. And VCS are not kind and generous. They’re going to withhold until some sort of shakeout happens in the tech space I believe.”
ConsenSys & controversy