Blockchain unicorn Fireblocks parting with 3% of team in second round of layoffs
Blockchain unicorn Fireblocks parting with 3% of team in second round of layoffs
Fireblocks, which also parted ways with around 30 employees last February, said: “In the last 6 months, Fireblocks has been working to restructure our go-to-market and customer support operations in an effort to provide our customers with a more efficient and streamlined service, and to position the company for expansion into new geographies.”
Fireblocks, which has developed an enterprise-grade platform for moving, storing, and issuing digital assets, is laying off 20 employees, accounting for 3% of the team. This is the second round of layoffs at the company, which parted ways with around 30 employees last February.
Fireblocks, which raised $550 million at an $8 billion valuation in January of 2022, surpassed $100 million in Annual Recurring Revenue (ARR) in 2022.
The latest layoffs are part of a restructuring at the company, with around 20 additional employees being moved to new positions. The layoffs are only expected to have a very minor impact on Fireblocks employees in Israel. The company continues to recruit new employees, with currently around 100 openings being available, including 50 in Israel.
“In the last 6 months, Fireblocks has been working to restructure our go-to-market and customer support operations in an effort to provide our customers with a more efficient and streamlined service, and to position the company for expansion into new geographies. Less than 3% of our teams have been impacted by the restructuring, and all those impacted have been granted severance packages,” Fireblocks said in a statement.
