CoinDesk reports that crypto services company NYDIG has cut over 30% of its workforce in a layoff that has been going on for several weeks.
According to the report, NYDIG has laid off around 100 people.
The Wall Street Journal puts the figure at 110 employees.
NYDIG is reeling from the crypto winter that has seen the price of bitcoin fall to under $20,000, a 70% decline from its November 2021 all-time high of about $67,500.
NYDIG is also undergoing some reshuffling. PageOne.ng had reported in early October that the company announced CEO Robert Gutmann and President Yan Zhao would be stepping down and returning to Stone Ridge Holdings Group, the parent company of NYDIG. Tejas Shah and Nate Conrad, both executives at NYDIG, would take over as CEO and President, respectively.