Yahya 
Citing the pressure towards cost reduction, the firm that developed the Radix DeFI ecosystem, RDX Works, laid off staff trimming the workforce by 15%. The recent layoffs were announced on August 29 as the company’s CEO, Piers Ridyard, said that such step is necessary to ‘refocus’ the business and to gain more control over expenditure.
The open-source Radix platform that officially started its proper work in July 2023 supports development environments and operating tools for decentralized applications and financial services on the Internet. Still, RDX Works has achieved a great deal implementing this strategy and chose to cut the staff to be sustainable in the future. Currently, there are approximately 71 employees that are listed on LinkedIn and associated with RDX Works company primarily in software engineers, cybersecurity analysts, and designers.
Important initiatives including multifarious account persona control and recovery (MFA) and the Cassandra test network will continue without disturbance, Ridyard added. He did acknowledge, however, that shifting some traditional points of contact for the business would create some temporary upheaval.
The Radix ecosystem token (XRD) has been steady since the announcement, climbing 1% to $0.02352 even if it is still down 96% from its all-time high in November 2021.
This most recent wave of layoffs predominantly affects business support professionals after a prior 25% of the workforce in March 2023 mostly impacted reduction. The business recently unveiled a strategic agreement with digital asset companies to provide Radix ecosystem quick liquidity with an aim to boost the liquidity and accessibility of crypto assets inside the platform.
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