9 months ago
The NEAR Foundation precocious said it has fto spell of 35 workers arsenic portion of a realignment workout that sees it “focus connected a narrower and higher-impact acceptable of activities.” The foundation’s CEO insisted that the occupation cuts did not successful immoderate mode bespeak that his enactment was facing fiscal challenges.
The NEAR Foundation’s Record-Breaking Year
The NEAR Foundation announced connected Jan. 11 that it had chopped its unit by astir 40% arsenic portion of a realignment process that volition spot it “focus connected a narrower and higher-impact acceptable of activities.” Illia Polosukhin, the CEO of the Swiss-based nonprofit foundation, has nevertheless pledged to assistance the 35 employees find different opportunities successful the Web3 industry.
According to his missive addressed to the NEAR community, the occupation cuts are coming disconnected the backmost of what the CEO characterized arsenic a palmy 2023. Some of the successes achieved successful the past twelvemonth see the NEAR protocol becoming location to 3 apical 10 apps successful Web3. In the aforesaid period, the NEAR protocol reportedly saw a grounds fig of regular users.
However, contempt these achievements, Polosukhin said a reappraisal of the NEAR Foundation’s activities showed that changes were needed to marque the protocol adjacent better. The CEO explained:
“During this process, we heard feedback that the Foundation has not ever been arsenic effectual arsenic it could be, sometimes moving excessively dilatory and trying to bash excessively galore things astatine once. Following this review, we person decided to importantly consolidate the halfway Foundation squad to absorption connected a narrower and higher-impact acceptable of activities.”
Polosukhin, however, insisted that the occupation cuts did not successful immoderate mode bespeak that the instauration was facing fiscal challenges. To enactment this assertion, the CEO pointed to NEAR Foundation’s well-managed treasury which has implicit $285 cardinal successful fiat. In addition, it has 305 cardinal NEAR coins worthy implicit $1 cardinal and $70 cardinal successful investments and loans.
Meanwhile, Polosukhin’s missive revealed that astir of the affected workers were from the marketing, concern development, and assemblage teams. However, the NEAR Protocol engineering squad astatine Pagoda is acceptable to proceed operating arsenic it has successful the past.
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