Near Foundation to cut 40% of staff

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Near Foundation has announced that it will cut 40% of its staff.

Thirty-five people from marketing, business development and community departments will be hit by the cuts.
The development team will continue to operate as normal.

The company said its financial position is strong. Near Foundation has $285 million in cache, $305 million in NEAR and $70 million in investments and loans in reserves.

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