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DCG-Backed Bitcoin Miner Foundry Cuts 60% of Workforce: Report

CoinGape
Summary
Nutrition label

66% Informative

Bitcoin mining firm Foundry has implemented a job cut that impacted as many as 60% of its workforce.

With a staff strength of 250 , the number of employees left is now about 80 to 90 .

Foundry is a subsidiary of the Digital Currency Group ( DCG ) The company said it implemented the layoffs to help focus on DCG ’s next initiatives.

DCG and its subsidiaries took a hit following the implosion of FTX Derivatives Exchange .

VR Score

45

Informative language

32

Neutral language

39

Article tone

formal

Language

English

Language complexity

46

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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