The Ethereum Foundation laid off 54 employees this week, cutting about 20% of its workforce. The nonprofit behind the Ethereum blockchain also unveiled a new organizational structure. Vitalik Buterin said the foundation plans to reduce its budget by roughly 40%.
54 jobs cut, 20% of staff
The layoffs hit the foundation’s roughly 270-person team. Fifty-four people were let go, a sizable reduction for an organization that has historically kept a lean profile. The foundation didn’t say which departments or roles were affected, but the cuts are part of a broader restructuring effort.
Budget trimmed by 40%
Vitalik Buterin said the foundation expects to reduce its budget by roughly 40% going forward. The exact timeline and specific areas for cuts weren’t detailed, but the reduction is tied to the new organizational structure. Buterin framed the move as a way to make the foundation more efficient and focused.
The foundation is now moving ahead with the leaner structure and the reduced spending plan. No further details about future hires or program cuts have been announced.
