The Etherdorf Foundation announced a reduction of approximately 20 per cent of the workforce, involving 54 jobs. This round of adjustments is part of an internal restructuring that lasts for several months, in the context of the Fund ' s renewed responsibilities and fund management strategy, and successive management changes in recent months.
Restructured Focus Core Tasks
In a blog post published on Tuesday, the Foundation stated that when the downsizing is completed, the organization will become more streamlined and resources will be more focused on key work in support of the long-term development of the Ether.
Under the new arrangement, the Foundation has divided its work into five sections. One of the sections is devoted to institutional cooperation and covers business communication, financial infrastructure and policy coordination.
High-level changes over the last six months
Prior to this retrenchment, there had been successive adjustments in the management of the ETA Foundation. The Joint Implementation Director, Wang Shui, left earlier this month, as did another Joint Implementation Director, Tomasz Starinczak. Board members Bastian Aue then assumed additional transitional and day-to-day operational responsibilities.
The report mentions that over the past six months, approximately nine senior members of the Foundation have left or completed their conversion. This change has also drawn renewed attention to the governance and efficiency of the Foundation, particularly in the context of increased competition in other public chains.
ETHLabs Synchronize
While the foundation is shrinking, another force within the ETA is expanding. Monday, Bitmine Immersion Technologies, SharpLink Gaming, and Joseph Lubin, co-founder of the Ether Workshop, announced their support for ETHLabs.
ETHLabs is a new, not-for-profit R & D project that aims to accelerate the advance of the Taifaf technology route and promote its adoption in the institutional market. Bitmine Immersion Technologies and SharpLink Gaming have been reported as the larger Etherwood Treasury in the open market.
This change shows that the development of the ETA ecology is being pursued in parallel by different subjects: On the one hand, the Foundation has scaled down its organization and refocused its resources, and on the other hand, new R & D and extension platforms for business currency and ecological members.