Follow UsUSDC Issuer Circle Quietly Cuts 5% of Staff in Profitable Quarter
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4 Nov, 12:44
Source: Decrypt
AI Summary
Circle, the issuer of USDC, announced a 5% workforce reduction and $9.1M in restructuring costs amid an 8% drop in reserve income during a profitable quarter.
The USDC issuer disclosed the cuts in its earnings release, booking $9.1 million in restructuring costs as reserve income fell 8%.