Business1 source
USDC Issuer Circle Quietly Cuts 5% of Staff in Profitable Quarter
Headline from Decrypt
Key points
- Circle, the company behind the USDC stablecoin, has reduced its workforce by 5% despite reporting a profitable quarter.
- The firm disclosed these layoffs alongside its latest earnings results, taking a $9.1 million restructuring charge.
- This decision to trim staff came as income generated from the company's reserves declined by 8% over the period.
Summarized automatically by Kryptokite from reporting by Decrypt. Read the original sources for full detail.
Coins mentioned
Sources
- DecryptUSDC Issuer Circle Quietly Cuts 5% of Staff in Profitable Quarter · 2 hours agoRead on Decrypt
Story timeline
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