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Planned Reduction

Discussion in 'Official Announcements' started by Ryan Taylor, Feb 23, 2019.

  1. Ryan Taylor

    Ryan Taylor Well-known Member
    Dash Core Team Foundation Member

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    As we shared on the last quarterly call, Dash Core Group was faced with some tough decisions to maintain financial stability in light of the current market. Although much of the impact from price reduction has already been absorbed by a combination of compensation fund buffers, voluntary pay cuts & eliminations, elimination of smaller stipends, and elimination of employment benefits, we have unfortunately reached the limits of what these options can accommodate. Earlier this month, we made the decision to lay off four of our DCG colleagues to reduce costs and align them with the available budget. Our monthly payments for January invoices yielded an average of ~$67 / Dash, which is the lowest price we’ve experienced since “crypto winter” began. As a result, these further steps were necessary to maintain the company’s financial health without increasing our share of the overall Dash budget; we remain committed to keeping our proposal requests below 60% of the available budget.

    This was not a decision we took lightly and we’ve been actively finding ways to reduce the budget over the past several months. A large number of contributors have already stepped forward to voluntarily reduce or eliminate their compensation, which has helped us a great deal coping with the reduced budget size. A hiring freeze has been in place for over 6 months, which has also allowed for some natural turnover to have an effect on our expenses as well. Unfortunately, at the current price, we reached the limits that these measures could address. We want to stress that no layoffs were related to performance, but based on what we felt was the best decision for both DCG financial health and the network in light of the current available budget.

    Our primary focus remains on the development of the network, and more specifically, the roll out of Evolution. As a result, we decided to focus cost reductions on several business functions so that we can ensure that focus remains without disruption. The business functions impacted are:
    • Human Resources, which will be eliminated
    • Strategy, which will be reduced by 2 people
    • Business Development, which will be reduced by one person
    These changes take effect starting on March 7th, allowing some time for wrapping up projects or transitioning activity to other team members. In total, the planned reduction represents 8% of our staff.

    We are actively making changes within the organization to ensure business continuity despite the reduction in resources. More specifically, the operational changes we will be making include the following:

    Human Resources

    Many HR related duties will be shifted to individual managers, finance, operations, or myself. Glenn will be acting as a primary contact point for HR topics going forward.

    Strategy


    Strategy projects will transition to each of the functions with whom the strategy team had been supporting. Operations will assume maintenance responsibilities for the metrics and reporting tools that the strategy team recently created. Going forward, Liz will begin reporting to me directly and will continue to lead product management and related projects.

    Business Development

    I will be taking a larger role in business development going forward to assist with the smaller team size and capacity, and we will focus more attention and prioritize on the components of our growth strategy that are gaining traction most quickly.

    DCG is doing its best to minimize the impact to our people and operations, and though the options facing us were less than ideal, we will continue to balance the competing needs of financial stability, continuity for our operations and people, and needs of the network we serve. With these reductions, we are hopeful that Dash Core Group can weather the current environment. We wish nothing but success for those impacted and I want to thank them personally for the lasting contributions and commitment they demonstrated to both DCG and the network.
     
    • Informative Informative x 10
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  2. camosoul

    camosoul Grizzled Member

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    Trimming fat is good, but after having done it, the acknowledgement that you were gluttonous helps going forward.

    This has crossed the line from trimming the fat into skipping meals and pulling the belt tighter.

    Frankly, I'd like to see a larger take from the overall budget. Not that it would fully negate current ailments, but that every drop counts; it's time some other fat got trimmed, too...

    While DCG is, at this time necessarily, a software development firm; I'm concerned that it's going to stay that way.

    Having the coolest toys in the cul-de-sac doesn't do any good if nobody plays with them. Realize that other projects are swimming in conventional fundraising dough.

    The path for DASH is retail vendors. They need support in the way of services that actually work for their interests. 5 years on, this is still virtually non-existent. Cool software that nobody uses is different from cool software that can't be used. Where would Bill Gates be if computers had never been invented? DASH continues to risk that environment, and I'm waayyy past concerned about it...
     
  3. EUsouth

    EUsouth Member

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    @Ryan Taylor


    First of all, happy to say hello ... you are a kind and loyal image in my DASH imagery. A pleasure.

    I can only perceive this as a new delivery of the "10 Commandments" of DASH Core Group ... a supra-entity within a presumably decentralized DASH that emits constant "status quo" that sweep the DAO, while the rest eats crumbs in the form of absolutely minor proposals (the vast majority of them, commercial expansion microstrategies based on volatile money - that is, of very poor quality for a global payment project -)

    The discourse towards a massive adoption that will fix and give meaning to everything is absolutely amortized, squeezed and dry ... when Dash's great self-financing approach allows precisely its own stimulation and feedback optimizing services within the ecosystem that the community already requires constantly of third parties in their day to day crypto and that could be overturned for their own benefit, stimulating the DAO. A use of this type of services would get a constant contribution to the DAO and that the activism and the role of the suffering community will stop referring to a continuous harakiri of their own savings ... while others charge punctually for their contribution.

    I leave a link ( https://www.dash.org/forum/threads/dash-should-create-his-own-exchange.43109/ ) to a thread that tries to draw attention to a case of optimizing the DAO to generate resources (current adoption) and another, to optimize the currency (future adoption) and therefore, of the huge resources devoted to promotion of the same on the street that volatility can lead or be leading to a dead end with subsidized videos of "presumed adoption" that may be worth little more than to create a false perception of global use. To send work teams to promote a volatile currency is to send soldiers to war with candy swords.You are aware that as soon as Dai, the Stable of MAKER (catalyst of eth and, of course, backed by the demand of ethers), that is currently "sucking the enrollment" in the ranking, put on the table an appropriate commercial structure of global expansion ... can volatile currencies be left for a museum of crypto history? (On the other hand, no structure like the commercial one of Dash at global level to devastate the market IN ONE INSTANT with a Stable coin that preserves the wealth of its users and even favors the TRANQUIL saving among its numerous merchants, buyers, etc ... without the HODL supposes a heroic activity - that runs between scare ... or death -, but a NATURAL practice with his money)

    By the way ... the redhead who counts the Mnodes by tens or hundreds ... what do you expect to return to the chain what came out, coincidentally or not, but surely unbalanced, from it? A Dash exchange with a unique Stable coin that would also eliminate the volatility of the entire project would be a great opportunity to start doing it. And to preach by example the solidarity of the "most supportive and democratic" of the projects in the ranking. Great time for it.

    ... although, well ... we can always continue talking about revolutions and "rebalancing of economic justice" while in Dash some lose thousands of dollars a month ... and others, they win (remember DCG and the whole cascade of skillful devourers of proposals that the savings of the community also come from work suffered) and Binance or the Stable Coins, which have been doing the belly dance in our face all this bear market, sacking every last penny of the crypto cap.

    All this said with all due respect, of course ... but also with well-filled balls, truth be told.

    Greetings, empathy and encouragement. GO DASH !



    P.S. Claims for the bad English, to Saint Google, please ;)
     
    #3 EUsouth, Feb 23, 2019
    Last edited: Feb 23, 2019
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  4. bhkien

    bhkien Active Member
    Linguistic

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    Bravely decision!

    Of course laying off isn’t fun, it’s hard, and feeling hurt. However it is necessary for the development of any organization.

    Because every organization if it growing too quickly, it’s very hard to select enough people who work effectively together in a short time.

    Reducing make the team more focus, more effective, and reduce unnecessary procedures.

    Maybe DCG could reduce the marketing function because it isn’t really effective.
     
    • Agree Agree x 1
  5. David

    David Well-known Member
    Dash Support Group

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    Hopefully the Core Team can reevaluate their self-imposed (and seemingly-arbitrary) 60% budget limit. While I applaud the great work many community members are doing with their budget system funding, I think Dash Core development is paramount above all else. In such a challenging funding climate, why is Core restricting themselves to such an extent?
     
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  6. qwizzie

    qwizzie Well-known Member

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    #6 qwizzie, Mar 10, 2019
    Last edited: Mar 10, 2019

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