Circle cuts 5% of staff in profitable quarter
BROBROK News · Based on reporting by BeInCrypto Español ·
Circle Internet Group, the New York company behind USDC, cut about 5% of its workforce in the third quarter. The reduction was disclosed in a footnote alongside financial results that showed higher profits.
Key points
- The workforce reduction was about 5%.
- The detail appeared in a footnote to the earnings report.
- Quarterly results showed a rise in profits.
- Circle is the issuer behind the USDC stablecoin.
- The available summary does not explain the reason for the cuts.
Why it matters
The move stands out because it came during a quarter with stronger profits, pointing to internal restructuring despite improved financial performance. For crypto markets, it affects a major stablecoin issuer.
Original headline: “Circle despide al 5% de su personal en un trimestre rentable: ¿por qué ahora?”
Read the original on BeInCrypto Español
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.