Genesis has cut 30% of staff as the firms borrowing and lending unit continues to face issues.
"While we are committed to moving as quickly as possible, this is a very complex process that will take some additional time," interim CEO Derar Islim wrote in a letter to clients obtained by The Block.down with immediate effect on Aug. 17. The firm reduced headcount by 20% at the same time, saying it planned to"align our organization to our strategic priorities."
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