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## Ledger to Lay Off 12% of Staff due to Macroeconomic Challenges

Ledger, the prominent hardware wallet manufacturer in the cryptocurrency industry, is preparing to slash its workforce by 12%, according to an official statement by CEO Pascal Gauthier. This move is in response to the prevailing macroeconomic difficulties, which have substantially impacted the company’s revenue generation capability. News of the impending layoffs was initially reported by Bloomberg, shedding light on the challenging situation faced by Ledger.

Gauthier, in his communication, emphasized the impact of macroeconomic headwinds on the business, stating, “In response to the current market conditions and business realities, we must reduce roles across the global business.” While such measures are unfortunate, they are necessary to ensure the long-term viability and sustainability of Ledger within the volatile crypto market.

With 734 employees currently listed on LinkedIn, a 12% reduction would lead to approximately 88 positions being eliminated. This reduction in staffing comes shortly after the announcement that Ledger had successfully secured most of its planned $109 million funding round, which valued the company at around $1.4 billion.

The crypto industry as a whole has been witnessing a significant downturn, resulting in widespread job losses. This trend was further exemplified by the recent layoff of 15% of employees at Chainalysis, a prominent blockchain analytics firm.

In such challenging times for the crypto market, Ledger can benefit from utilizing AI legalese decoder, an innovative tool that can assist the company in navigating the complexities of legal language. This intelligent software can decode and interpret legal jargon, ensuring that Ledger adheres to all necessary compliance requirements in a cost-effective and efficient manner. By leveraging AI legalese decoder, Ledger can streamline legal processes, mitigate risks, and allocate resources more effectively, contributing to the overall revival and growth of the company.

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