Binance is celebrating its sixth anniversary, with over 1,000 people reportedly laid off in recent weeks, The Wall Street Journal reported.
According to former employees, cuts were global and customer service workers were heavily affected, particularly in India. Including this week’s layoffs, over 1,000 employees have lost their jobs at the exchange. Before the slash, Binance’s global headcount was estimated at 8,000. Binance could lose more than a third of its staff due to the ongoing reorganization.
Binance announced a 20% reduction in staff on May 31, claiming it was not downsizing but reallocating resources. “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,” a Binance spokesperson told Cointelegraph at the time.
Data from Glassdoor recently unveiled that Binance was home to some of the least happy employees in the crypto industry. An exchange spokesperson explained that the company seeks to hire candidates “who can thrive in a truly high-performance environment,” in addition to being “obsessively focused on delivering for our users.”
Since early June, when Binance was hit by a wave of regulatory challenges across the globe following a lawsuit by the United States Securities and Exchange Commission, the exchange has experienced several setbacks.
Binance was
Go to Source to See Full Article
Author: Ana Paula Pereira
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
