The company said the restructuring will cut about 25% of its global workforce as it prioritizes an integrated payments platform spanning card issuance and stablecoin payments.
Exodus said it is cutting about 25% of its global workforce as part of a restructuring aimed at concentrating resources on an integrated payments platform that includes card issuance and stablecoin payments. The company said the effort will also support the integration of Monavate and Baanx, indicating a broader push to combine payments capabilities within its business. Exodus expects to record $2.5 million to $3.5 million in charges related to the restructuring and projects annual cost savings of $10 million to $13 million.