Mara Layoffs

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Web3 startup Mara conducted a second round of layoffs in May 2023, primarily dismissing its marketing department, affecting around six employees. This follows a previous layoff in December 2022 that cut 50% of its staff, which the company attributed to cost reduction and restructuring, not financial troubles or the FTX collapse. Mara, an African-focused crypto startup that raised $23 million in 2022, is shifting its focus from user acquisition to serving existing users and developing new projects to drive crypto adoption on the continent. Despite the layoffs, the company continues to hire in areas like engineering.

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