Browsing: crypto company layoffs

Tether operations in Uruguay are coming to a premature end, following the company’s decision to lay off 30 employees from its local workforce of 38.This significant move, confirmed by Tether to the Uruguayan Ministry of Labor and Social Security, reflects broader trends in the crypto sector, which has recently seen numerous layoffs, including those labeled as ‘Tether layoffs.’ Tether, which had planned to invest an impressive $500 million in the region—including the establishment of data centers in Uruguay—now cites high energy costs and an uncompetitive tariff structure as key reasons for its withdrawal.