Fireblocks

Blockchain unicorn Fireblocks is laying off 20 employees, representing 3% of its workforce, as part of a restructuring effort announced in February 2024. The company, which provides an enterprise platform for digital assets and was valued at $8 billion in 2022, stated the move aims to streamline its go-to-market and customer support operations for greater efficiency and to facilitate expansion into new regions. This marks the second round of layoffs, following a reduction of about 30 staff in February 2023. Despite the cuts, Fireblocks continues to hire, with approximately 100 open positions, half of which are in Israel, and has reassigned around 20 other employees to new roles within the company.

Digital assets infrastructure unicorn Fireblocks is laying off 30 employees, representing 5% of its workforce, as part of a small restructuring to optimize for its next wave of growth. The company, which had raised $550 million at an $8 billion valuation in early 2022, announced the layoffs in February 2023. This marks its first workforce reduction since the tech downturn began. Despite the challenging crypto market, Fireblocks had recently reported surpassing $100 million in annual recurring revenue. The layoffs, affecting about half of its Israeli staff, are intended to better position the company to serve new verticals and meet business objectives in the coming year.