Blockchain Firm R3 Cuts Over 20% of Global Workforce Due to Industry Slowdown!

Writer: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech trade since 2017.

Sep 14, 2023 19:23

R3, a blockchain firm backed by Financial institution of America and Intel, amongst others, has lower over 20% of its world workforce because it seeks to climate an trade downturn. Folks with data of the matter say the New York agency made job cuts throughout completely different features worldwide in an try and protect money. R3 is without doubt one of the pioneering blockchain startups and is targeted on creating blockchain-based methods for banks and different monetary corporations. In a September 11 weblog put up, the agency introduced it was decreasing headcount with out disclosing figures. Blockchain adoption in finance has been slower than anticipated.