Piers Ridyard, the CEO of RDX Works said the cuts are part of a “more comprehensive set of changes that need to be made.”
RDX Works, the team behind the Radix decentralized finance (DeFi) platform, has axed 15% of its workforce, citing a need to lower costs.
Officially launching its mainnet in July of 2023, the Radix network offers developer tools to build and run decentralized applications (DApps) and financial services on the blockchain.
The firm’s CEO, Piers Ridyard, confirmed in an Aug. 29 statement to the company’s official Telegram group the staff cuts are to “refocus” and is part of a “more comprehensive set of changes that need to be made.”
