Qredo layoffs — Nov 1, 2023

Qredo cuts 50% of staff on Nov. 1 as company says it has about six months of runway left

Qredo, a crypto wallet company, cut 50% of its workforce on November 1, 2023, according to the information provided in the source. The company did not disclose the exact number of jobs eliminated.

The layoff was tied to market conditions, with Qredo saying it had about six months of runway left. No additional details about the restructuring were provided in the source material.

Qredo operates in the wallet segment of the crypto industry, offering infrastructure related to digital asset storage and management. The company’s workforce reduction comes as crypto firms continue to adjust staffing levels in response to broader market pressures.

No direct quotes from company officials were included in the source text. The source also did not provide further information on whether Qredo planned additional cuts or changes to its operations beyond the reduction announced on November 1.

Sources: Google News