The Ethereum Foundation (CRYPTO: $ETH) is cutting 20% of its workforce days after the organization’s executive director stepped down.
The Foundation said that it is eliminating 54 full-time employees, equivalent to 20% of its workforce, as it concludes a months-long reorganization process.
Going forward, the Ethereum Foundation will operate under a new five-cluster operational structure and implement a revised Treasury Management Policy.
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In a bog post, the Foundation said that the changes will give it “the structure, activities, and people necessary for execution on the critical tasks ahead.”
Staff that have been let go will receive severance packages of one month’s pay per year worked at the Ethereum Foundation.
Many of the departing staff are expected to continue contributing to the Ethereum ecosystem from outside the organization.
The staff cuts are the latest upheaval at the Ethereum Foundation, which is a Switzerland-based non-profit established to support, grow, and advocate for the Ethereum blockchain ecosystem.
In the past week, the Ethereum Foundation’s executive director Hsiao-Wei Wang resigned from her role leading the organization, departing effective immediately.
Her departure followed the resignation of fellow co-executive director Tomasz Stańczak, who left earlier this year.
A total of eight senior executives have left the Foundation in the past five months. The situation has led to scrutiny of the Ethereum Foundation’s priorities, governance, and strategic direction.
The new structure organizes the Foundation into five clusters — protocol layer, access layer, user layer, community layer, and institutional layer.
Each cluster is designed with its own internal structure and accountability framework tailored to its function, says the Ethereum Foundation.
ETH is currently trading at $1,660 U.S.
