Ethereum-based startup ConsenSys will reduce 14% of staff during the reorganization

Ethereum blockchain developer ConsenSys announced a strategic business transformation and reductionstate by 14%.

ConsenSys will separate the core technology business of software development from venture capital.

As a result of the reorganization, ConsenSys will continue to develop and manage software products, including Infura, PegaSys, MetaMask, Codefi and several others. This direction will focus on two goals:

• providing tools and infrastructure for developers, decentralized finance, and the community;
• assistance to enterprises in the field of financial services, trade finance and commerce in the deployment and implementation of blockchain solutions.

ConsenSys Investments will continue its ventureactivities by maintaining the current portfolio of companies and investing in teams at the protocol, infrastructure and application levels. The priority for new investments will be «early stage investments, liquid digital assets and strategic opportunities where possible».

In addition, a number of projects financed from internal sources of the company will go into the portfolio of ConsenSys Investments.

As a result of the company's transformation, the totalheadcount will be reduced by 14%, which will allow teams to be “restructured in accordance with the needs of the software development company,” the statement said.

Recall that during the organizational transformations at the end of 2018, a startup fired 13% of the staff. ConsenSys' venture capital business restructuring plans were announced last May.