According to the Public Notice of the Taifung Foundation, 54 posts have been abolished, representing approximately 20 per cent of the total number of employees. This round of adjustments is part of a several-month reorganization aimed at concentrating personnel, funds and operational resources on long-term work that the Foundation believes it must undertake.
Five directions after restructuring.
The Foundation indicated that the new organizational structure would be structured around five main directions: protocols, access, users, communities and institutions. Management and operational services remain the responsibility of an independent team.
According to the Foundation, this reduction was not due to short-term market fluctuations, but to the redistribution of resources. Once the realignment is completed, the size of the team will be reduced but the responsibilities will be more centralized.
- Number of staff reductions 54
- About 20 per cent of total current staff
- The details of the new architecture will continue to be disclosed for weeks to months thereafter
The process of upgrading the agreement continues
At the same time as the organization was restructured, the development of the Ether Workshop did not stop. The current developers are still advancing the Glamsterdam upgrade and other protocol improvements.
The disclosed Glamsterdam upgrades include Enshrined Proposer-Builder Security and Block-Level Access Lists. These changes relate mainly to the transparency of block production and the way in which data are processed by the client.
In addition to the above, the development team is moving ahead with the re-pricing of gas, the Layer 1 expansion, privacy improvements and subsequent security enhancements.
Separations will receive compensation and transitional support
The company disclosed that the affected staff would receive demobilization compensation and transitional support. The Foundation also indicated that it would provide professional assistance to those who had left their jobs in the search for new opportunities within and outside the ETA.
At the same time, the Foundation mentioned that additional funding would be provided to cover part of the expenditure in the transition process.
This adjustment took place following a change in management within the Etheraf. Previously, Hsiao-Wei Wang, a member of the Joint Implementation Board and Board of Trustees, had left early last week. At the same time, ETH recently fell to about US$ 1650 in a fall in the market, and several encryption agencies in the industry have scaled down their teams.
Additional information:According to the ETA Foundation, more details on the new organizational structure and follow-up plan will continue to be published in the coming weeks and months.