The Ethereum Foundation is cutting approximately 20% of its workforce and eliminating 54 positions as part of a major restructuring amid continued changes in senior leadership and increasing fragmentation across the broader Ethereum ecosystem.
The layoffs, announced in a blog post on Tuesday, conclude months of internal restructuring related to implementing the Foundation’s updated mission and financial policies. EF said the cuts will result in a structure that is “leaner and more focused” around the “critical tasks” needed to support Ethereum’s long-term development.
This reduction comes after a period of significant disruption at the leadership level of the organization. Co-executive director Xiaowei Wang resigned earlier this month, following the earlier resignation of co-executive director Tomasz Stanczak. Board member Bastien Aue has since been given increased responsibility for overseeing the transition and day-to-day operations.
A total of about nine executives have left or retired from the Ethereum Foundation over the past six months, increasing scrutiny of the organization’s governance model and performance as Ethereum faces increasing competition from rival blockchain ecosystems.
While EF is shrinking, efforts in another ecosystem backed by some of Ethereum’s largest corporate holders are expanding.
