Accordingly, about 20% of personnel will be affected during this adjustment process. This move is understandable because since the beginning of 2024, the chain of resource cuts and restructuring has become a global hot spot.
"This is a difficult decision, but we believe that restructuring and changing the business development model will help Ninety Eight operate more effectively, adapt quickly to market trends and continue to develop sustainably in the future," said Mr. Le Thanh - co-founder of Ninety Eight.
This decision is part of the companys long-term strategy, aiming to streamline the apparatus, focus on core products, improve competitiveness and adaptability in the context of a strong development of the blockchain industry market, especially in Vietnam, said Mr. Nguyen The Vinh - CEO and co-founder of Ninety Eight.
In the period from 2022 to present, Ninety Eight has rapidly expanded its personnel scale to meet development needs. However, with changes in the Web3 market, the company sees that adjusting the operating model to optimize performance is a necessary step. Ninety Eight still maintains a strong financial foundation, continuing to invest in key and potential projects to move towards long-term but still flexible development.
Ninety Eight is committed to providing maximum support to employees affected by this decision, including providing financial support packages and career counseling.
