Experienced Difficult Times, Wallet Ledger Hardware Manufacturer Fires 12% Employee

Ledger is rumored to be laid off employees. (Photo; Doc. Ledger)

JAKARTA - Ledger, a crypto wallet manufacturer or hardware wallet, announced that it will fire about 12% of their total employees. Ledger CEO Pascal Gauthier described this decision as a response to various economic problems, including the sluggishness of the cryptocurrency market and problems faced by other companies such as Voyager and FTX.

The decision to reduce the number of employees is expected to have an impact on about 88 people, given the total number of Ledger employees of around 734 people. Pascal Gauthier stressed that this step was taken so that Ledger could continue to operate efficiently amid these economic challenges.

Nevertheless, Ledger CEOs give employees an optimistic message that the company has made significant progress. They see an increase in the use of products, revenue, and volume of transactions at Ledger Live, their flagship product.

Additionally, Ledger plans to launch new products and services, including the Ledger Recover, which will allow users to securely store their recovery phrases.

The announcement of the dismissal comes months after Ledger managed to raise more than $109 million and reached a valuation of USD 1.4 billion (IDR 21.8 trillion). The company is also in partnership with PayPal which allows US users to buy cryptocurrencies with their PayPal accounts.

Even so, Pascal Gauthier is optimistic that Ledger will get out of this difficult time and become stronger. Because Ledger plays an important role in the development of the cryptocurrency industry.