In a significant move to navigate through challenging market conditions, JP Mullin, CEO of MANTRA, has announced a major restructuring plan that will involve substantial layoffs. According to the official information, this decision comes in the wake of a difficult year for the company, marked by market downturns and increased competition.
Clarification on Layoffs
Mullin clarified that the layoffs are not indicative of employee performance but are essential for streamlining operations and concentrating on key initiatives that will drive future growth. He expressed his gratitude for the contributions of the departing employees and encouraged them to pursue new opportunities in the industry.
Optimism for the Future
The CEO remains optimistic about the future, stating that the remaining team will be better positioned to adapt to a more focused operational structure. This strategic shift aims to enhance MANTRA's resilience and ensure its long-term viability in a competitive landscape.
Recently, OKX announced staff layoffs within its institutional sector as part of a global restructuring initiative, contrasting with MANTRA's recent major restructuring plan. For more details, see read more.
