Stablecoin issuer Circle announces layoffs, accounting for less than 6% of the total number of employees

According to Bloomberg, stablecoin issuer Circle Internet Financial Ltd. stated that as part of a regular operational review, the company has made layoffs.

A Circle spokesperson said that the number of layoffs accounts for less than 6% of Circle's total employees. The company will continue to invest in regional growth, efficiency and productivity driven by artificial intelligence. Circle regularly reviews our investments and expenditures, which includes investing in teams and operational infrastructure that need development while slightly reducing spending and some positions in other business areas. In June, Circle reported having 882 employees.