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R&D Lab Protocol Labs to Cut 21% of Staff

Tris Bell

Summary: Research and development lab Protocol Labs announced on Friday it is cutting 21% of its workforce, citing the current economic downturn. “High inflation leading to high interest rates, low investment and tougher markets have rocked companies and industries globally…making [the crypto winter] more extreme and potentially longer than our industry expected," Protocol Labs CEO Juan ...

Research and development lab Protocol Labs announced on Friday it is cutting 21% of its workforce, citing the current economic downturn.

“High inflation leading to high interest rates, low investment and tougher markets have rocked companies and industries globally…making [the crypto winter] more extreme and potentially longer than our industry expected," Protocol Labs CEO Juan Benet said.

The company will cut 89 workers from a number of its teams.

Author: Tris Bell

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