On June 13, stablecoin issuer Paxos laid off approximately 20% of its workforce, equating to about 65 employees. This move, reported by several sources, is seen as a strategic decision rather than a sign of financial distress. The layoffs follow the recent launch of a yield-bearing stablecoin by Paxos.
Chegg announces deep job cuts in restructuring plan, sending shares surging 19% https://t.co/zryQbfNn0Z
Chegg is laying off 20% of its workforce. https://t.co/jYLubauXG0
Stablecoin issuer Paxos has cut its workforce by about 20%, or 65 people, sources say https://t.co/5T1MCZJcio via @crypto
Chegg is eliminating around a quarter of its workforce, or 500 employees #MacroEdge
$CHGG | Chegg Announces Restructuring Plan: What's Going On With The Stock? The restructuring plan will include a 23% headcount reduction and a refocus on students with a comprehensive course load. The company expects to realize savings of $40 million to $50 million in 2025… https://t.co/dO5pHkONUz
$CHGG | Chegg has announced a comprehensive restructuring plan to refocus on its core student audience. The plan includes reducing global headcount by 23%, targeting international markets, and enhancing its brand strategy with AI-driven educational tools and a proprietary…
Chegg Announces Restructuring Plan and New Vision for Growth https://t.co/VJ2mBgpc8l https://t.co/kNTpL1TZyg
#Paxos Trims Workforce by 20% After Yield-Bearing #Stablecoin Launch https://t.co/ee2mfBRVUB
Report: Paxos Lays Off 65 Employees Following Yield-Bearing #Stablecoin Launch https://t.co/ee2mfBRVUB
Stablecoin issuer Paxos cuts 20% of its staff as PayPal receives Trust charter - Ledger Insights - blockchain for enterprise https://t.co/TnZFOVf2FB https://t.co/zfhsqPozAV
Stablecoin issuer @paxos has cut 20% of its staff, according to a report. https://t.co/dSoHleba2M
Paxos has caused a stir with an unexpected move. The company recently laid off approximately 20% of its staff, roughly 65 employees. This decision, however, appears to be part of a calculated gamble rather than a sign of financial distress.
Paxos lays off 20% of staff https://t.co/0jla6iMgga
Stablecoin issuer @paxos has cut 20% of its staff, according to a report, @thesamreynolds writes https://t.co/Sd3diEM4y4