Circle is making a small number of layoffs and terminating some "non-core" businesses

ChainCatcher news, stablecoin issuer Circle stated that the company has made a small number of layoffs to maintain a "strong balance sheet."

A Circle spokesperson said, "To maintain our strong balance sheet, Circle is doubling down on core business activities and execution. Therefore, we have reduced or terminated investments in non-core businesses and cut operating expenses, which includes a small number of layoffs. Meanwhile, we have identified new areas for investment and will continue to hire talent in key global areas."

Circle's Chief Financial Officer Jeremy Fox-Geen revealed earlier this year to The Wall Street Journal that the company plans to increase its workforce by 25% to scale up. (source link)