DeFi platform Radix team RDX Works lays off 15% of staff to cut costs

RDX Works, the team behind the DeFi platform Radix, laid off 15% of its employees to reduce costs. Piers Ridyard, the company's CEO, confirmed in a statement released on the official TG channel on August 29 that the layoffs were for "refocusing" and were part of "more comprehensive changes that need to be made." He said: "One of them is to cut costs. As part of this, RDX Works has made a difficult decision to lay off about 15% of its employees, which has been completed today." The Radix Network will officially launch its mainnet in July 2023, providing developers with tools to build and run DApps and financial services on the blockchain. (Cointelegraph)