According to Bloomberg, Parity Technologies, the blockchain infrastructure company behind the public chain Polkadot, will lay off 30% (about 100 employees) as part of its plan to shift its focus to technology.
In a statement on Monday (23rd), Parity CEO Björn Wagner said through a spokesperson that as Parity shifts its focus to supporting Polkadot technology, this decision will affect so-called "go-to-market" work, including team.
Parity hinted at the layoffs on the X platform on October 10. “Parity’s financial position and regulatory involvement remain sound, and we remain focused on the success of Polkadot,” Wagner said.
Polkadot is a public chain network that allows different blockchains to communicate with each other. Polkadot raised $140 million through an initial coin offering (ICO) in 2017, and its co-founder Gavin Wood, known for his early involvement in Ethereum, resigned as CEO of Parity in October 2022.
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