Ethereum incubator ConsenSys announces second restructuring

In an all-hands meeting delivered by Joe Lubin today, Consensys announced that it is restructuring its company, laying off 14% of its workforce. The company plans to simply its business dividing its software and investment arms.

Why it matters:

• The company laid off 13% of its staff at the end of 2018 as part of its Consensys 2.0 restructuring initiative. Furthermore, in August of last year, The Information reported that Consensys was looking to raise $200 million from outside investors.
• Consensys is one of the largest and most influential Ethereum companies in the world incubating and funding many Ethereum based projects and building Ethereum infrastructure