Lido Cuts Workforce by 15% for Long-term Sustainability

YM Lee

Summary

Lido (LDO) has announced plans to reduce its total workforce by 15% for long-term sustainability.
Co-founder Vasily Shapovalov stated that this decision reflects a commitment to sustainable growth and operations-centered development.
Lido is an Ethereum (ETH) liquid staking protocol that allows users to stake Ethereum while maintaining liquidity.

Lido (LDO), an Ethereum (ETH) liquid staking protocol, has announced plans to reduce its total workforce by 15% for long-term sustainability.

According to a report by The Block on the 4th (local time), Vasily Shapovalov, Lido's co-founder, stated, "It was a difficult decision, but we made it based on long-term resilience. This workforce reduction reflects our commitment to sustainable growth and operations-focused development."

Launched in 2020, Lido is an Ethereum-based liquid staking protocol that enables users to stake Ethereum and participate in network security while maintaining liquidity.

LDO

YM Lee

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Lido Cuts Workforce by 15% for Long-term Sustainability

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