The cuts will affect less than 5% of Chainalysis’ staff, or about 40-50 people.

Blockchain analytics company Chainalysis is cutting headcount as it reorganizes to adjust to challenges in the crypto market.

The New York-based firm, which specializes in analyzing and tracking crypto transactions for risk-management purposes, said the reorganization will primarily effect its “go-to-market” team.

“As a part of this reorg, some folks will have new roles, responsibilities, and reporting lines,” a Chainalysis spokesperson told CoinDesk in an emailed statement. “Unfortunately we will also part ways with some incredibly talented people within our team.”

The cuts will affect less than 5% of Chainalysis’ staff, the company said. The firm said it employs over 900 people, meaning the cuts would amount to 40-50 jobs.

Jobs cuts across the crypto industry have been a feature of the past few months as firms have adjusted to bear-market conditions. CoinDesk estimates that nearly 30,000 jobs have been cut by crypto firms since April 2022.

The post Blockchain Analytics Firm Chainalysis to Cut Jobs in Reorganization appeared first on Crypto Insider.