Protocol Labs layoffs — Feb 3, 2023

Protocol Labs cuts 21% of staff on Feb. 3, 2023 amid market conditions

Protocol Labs, the research and development company behind Filecoin, said on Feb. 3, 2023 that it was cutting 21% of its workforce. The company did not disclose the total number of jobs affected.

The layoff announcement was tied to market conditions, according to the stated reason category provided. No additional details about the restructuring were included in the source material.

Protocol Labs is a research-focused crypto company best known as the creator of Filecoin, a decentralized storage network. The company has played a major role in building infrastructure and tools for decentralized technologies.

No direct quotes from company officials were included in the source text. The source material also did not provide a timeline for further changes or additional guidance on the company’s outlook after the cuts.

Sources: Google News