PANews, November 4: Stablecoin issuer Circle (CRCL) cut approximately 5% of its workforce—around 55 roles—as part of a third-quarter restructuring aimed at improving efficiency and aligning operations. Circle currently has about 1,100 employees and is still hiring for 96 positions. Earlier reports indicated that Circle’s third-quarter revenue reached $865 million, a 17% year-over-year increase.
Circle cuts 5% of its workforce in Q3 restructuring, affecting 55 positions.
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Summary
Stablecoin issuer Circle (CRCL) announced a 5% reduction in its workforce during Q3, eliminating 55 roles as part of a restructuring initiative. The company now employs approximately 1,100 people and continues to hire for 96 open positions. Q3 revenue reached $86.5 million, a 17% year-over-year increase. This comes amid ongoing crypto industry developments as firms optimize operations for greater efficiency. Additional news regarding hiring and restructuring in the cryptocurrency sector is expected as the industry continues to evolve.
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