Binance, a prominent cryptocurrency company, has recently joined the growing list of companies implementing layoffs. According to The Wall Street Journal, Binance has laid off over 1000 employees, which may result in a significant reduction of one-third of its workforce. This decision has the potential to greatly impact the operations of the crypto giant. The report specifically mentions that the layoffs affected employees in the customer service department, with around 36 employees being laid off in India. The exact number of affected individuals has not been disclosed by a spokesperson from Binance, who commented on the situation, stating, “As we prepare for the next major bull cycle, it has become clear that we need to focus on talent density across the organization to ensure we remain nimble and dynamic. This is not a case of rightsizing, but rather, re-evaluating whether we have the right talent and expertise in critical roles,” to The Wall Street Journal.
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Denial of responsibility! TechCodex is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
