Parity Technologies to Fire 30% of its Employees
According to a corporate letter, Parity Technologies, the company responsible for the Polkadot project, will be reducing its workforce by 30%, which equates to approximately 100 employees.
This decision was made as part of the company’s plans to shift its focus towards its own technologies, as reported by Bloomberg.
Parity’s CEO, Björn Wagner, stated that the affected employees will have several months to find new roles or contracts, and the company will do its best to support them in contributing to Polkadot.
Parity had previously hinted at upcoming layoffs in mid-October, but has confirmed them now.
In an effort to enable the wider project community to drive market growth, Parity is scaling back its go-to-market functions.
However, the company’s financial and regulatory position remains stable, according to Björn.
Parity’s development team is not the only one facing layoffs, as security company Chainalysis also announced a layoff of 150 employees in October.
