MANTRA Cuts Staff to Stay Afloat After Brutal Market Year
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MANTRA founder and CEO John Patrick Mullin announced a significant restructuring at the company. In a post on X, Mullin confirmed that the company behind the real-world asset-focused Layer 1 blockchain will cut staff across multiple teams as it seeks to reset its cost structure after “the most challenging year” in the firm’s history.
The decision to reduce headcount followed months of internal deliberation and came after efforts to curb spending and streamline operations proved insufficient to match near-term market realities. As per the announcement, the layoffs will affect teams across the organization, including business development, marketing, human resources, and other support functions, among the hardest hit.
