CoinDesk lays off 45% of its editorial staff, and parent company DCG plans to bring in strategic investors

2023-08-14 21:43:25

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ChainCatcher news, according to The Block, the crypto media company CoinDesk has laid off 20 employees (45%) from its editorial department, as its parent company DCG plans to bring in strategic investors.

The company will hold an all-hands meeting at 4:00 PM Eastern Time to discuss the layoffs. CoinDesk CEO Kevin Worth wrote in a memo: "The purpose of this meeting is to inform everyone that several positions in our media team have been affected by the layoffs today. This is a very difficult message to send to everyone via email, but I also want everyone at CoinDesk to understand what has happened today as soon as possible."

According to DCG's second-quarter investor letter to shareholders, CoinDesk has hired financial advisors to "help bring in new institutional and strategic investors for DCG."

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