# USDC Issuer Circle Quietly Cuts 5% of Staff in Profitable Quarter

- URL: https://talkfuse.com/story/usdc-issuer-circle-quietly-cuts-5-of-staff-in-profitable-quarter/
- Published: 2026-11-04T12:44:00+00:00
- Updated: 2026-11-05T13:06:43+00:00
- Original publisher: Decrypt
- Original article: https://decrypt.co/382493/usdc-issuer-circle-quietly-cuts-5-of-staff-in-profitable-quarter
- Topics: Business, Companies

## Key points

- Circle reduced its workforce by about 5%.
- The company earned $226 million in the quarter.
- Average USDC circulation rose 8% year on year.

## Summary

Circle cut about 5% of its workforce, citing a need to align its organisation with its operating model and priorities. The reduction was disclosed in its third-quarter results, which showed the company remained profitable as it expands its stablecoin and blockchain businesses.

Circle reported $226 million in net income from continuing operations, up 5% year on year, and $865 million in revenue and reserve income, up 17%. It did not disclose how many employees or which teams were affected; restructuring expenses were $9.1 million. Average USDC in circulation rose 8% to $73.3 billion, while reserve income fell 8% to $658 million. Circle’s cuts follow reductions at several other crypto firms this year.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.