NCX, a climate tech company operating a forest carbon marketplace, has laid off 40% of its workforce. The decision, announced today, was driven by persistent confusion and turbulence in the carbon market, which saw a reversal in consensus on quality standards for nature-based solutions in 2022, contrary to the company's expectations. While acknowledging broader economic pressures affecting tech firms, NCX stated the layoffs were necessary to ensure it can execute its mission of creating measurable climate impact at scale during this critical decade. The company, founded over a decade ago, expressed deep regret over parting with its talented team of foresters, scientists, and engineers and is providing severance and outplacement support to affected employees.
