Bitcoin Wallet Ledger Is Considering Reducing 10% Of Its Workforce

As we witnessed the effects of the harsh crypto winter, many crypto-related companies suffered.
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Ledger was one of them. The hardware wallet company is facing declines in sales and could be laying off about 10 percent of its workforce. Let’s learn more about it on the latest cryptocurrency news below.

Some people, who invested in cryptocurrency and lost during the bear market, are unlikely to purchase an expensive product. Because of this, Ledger is facing a drop in sales and considers terminating the contracts of about 10 percent of its workforce.

However, the hardware wallet company hasn’t launched the mission yet.  Ledger is not eager to firing people. For example, Bitmain and Bithumb have gone through the same thing when they were obliged to reduce their workforce during the bar conditions while Ledger seems more cautious. The bull activity could bring a break for the companies if we were to enter a strong bull market again.

During the best times, Ledger was able to earn about 10 million euro each month. The hardware wallets were selling at a price of $60 to $270. The website of Ledger reported about $1.4 million units of the wallet were sold making it the most popular hardware wallets out there.

Hardware wallets are deemed as a product that you must have as a crypto user. For many others, there are some options such as the recently emerged products in the form of FINNEY phone of Sirin Labs and the Samsung Galaxy s10 built in wallet. Phones who offer a high level of security with built-in wallets could have a possible long-term effect in the interest of hardware wallets.

It is important to notice that the future is not as dark as it seems for Ledger. According to Presse Citron, a lot of money was raised during the high expectations of crashing the market. Ledger launched multiple products such as the Vault which is doing well.

By integrating new exchanges and other crypto-based companies and startups, could boost the sales further so new users will be attracted to crypto devices and products.