The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62.01 - Computer Programming Activities
88 jobs Number of planned job losses
Announcement Date
5 October 2023
Employment effect (start)
6 November 2023
Foreseen end date
Description
Ledger, the world leader in securing cryptoassets, has announced that it is cutting 88 jobs out of a total workforce of 734, representing a 12% reduction in headcount.
The company has been affected by the economic challenges the crypto sector is experiencing lately, especially in the aftermath of the FTX company's failure.
Ledger is developing a technological solution, thanks to strategic partnerships with banking institutions, that makes asset-based credit accessible to anyone with at least €20,000 in financial assets. Despite raising €100 million last March, Ledger has had to cut costs in order to maintain the company's sustainability.
Eurofound (2023), Ledger, Internal restructuring in France, factsheet number 200420, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200420.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
