Fitness app STEPN is reducing its workforce. According to journalist Colin Wu’s sources, the company plans to lay off more than 100 employees.
The reductions has affected not only the employees of the M2E platform, but also the project ambassadors. The percentage of dismissed from the entire state is not specified.
The bear cycle in the crypto market has also forced STEPN to shelve some developments and reduce investments.
According to sources, the company is focused on promoting the parent studio Find Satoshi Lab and releasing new projects such as the NFT marketplace.
Other companies that have previously announced staff reductions include BitMEX, Robinhood, Gemini, Bitso and the parent company of the Brazilian exchange Mercado Bitcoin.
