Crypto-currency lender BlockFi reportedly Offer a voluntary resignation program to employees in hopes of reducing the number of employees This happened just a month after the company had cut a fifth of its workforce.
The “voluntary resignation” program would involve the company offering employees 10 weeks of paid leave and 10 weeks of health insurance, according to a report from Decrypt, citing an unidentified employee and a BlockFi spokesperson.
“BlockFi has initiated a voluntary resignation program to scale our organization to suit the current market environment,” a company spokesperson said. “This is not an act that we do carelessly. And we want to make sure employees are given the right decisions to be made to them.”
BlockFi is following other companies in the crypto space looking to cut costs. After the crypto market was hit hard by the collapse of the Terra ecosystem and the bankruptcy of hedge fund Three Arrows Capital and credit services firm Celsius.
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