Binance commented on reports of a mass layoff of 1600 people | |
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It was reported that Binance, with a total staff of around 8,000 people, had laid off 20% of its workforce, amounting to 1,600 employees. Allegedly, this occurred due to changing market conditions in the cryptocurrency industry. However, Binance CEO Changpeng Zhao (CZ) stated that this information is incorrect, although he did not deny that the company regularly dismisses individuals who are not a good fit. However, there is no specific percentage of staff reductions. CZ also mentioned that the exchange is still hiring more people than it is letting go. Furthermore, Binance's Director of Public Relations, Patrick Hillman, also added that the firm is not reducing 20% of its workforce to manage expenses, contrary to rumors. In a tweet, Hillman stated that the cryptocurrency exchange has demonstrated impressive growth over the past five years and emphasized that the company regularly conducts a "headcount density audit." | |
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