Circle (CRCL) Cuts About 5% of Workforce as Q3 Revenue Hits $865M

Key points

• USDC issuer Circle has reduced its global workforce by approximately 5% while incurring a $9.1 million restructuring charge.
• Despite the job cuts, the company reported strong financial growth for the third quarter, with revenue increasing 17% year-over-year to reach $865 million.
• The organizational adjustments come as the stablecoin operator reorganizes its internal operations.

Summarized automatically by Kryptokite from reporting by Bitcoin Magazine. Read the original sources for full detail.