Wu Blockchain assures that the fact of staff reduction was confirmed by the people who received the appropriate notice of dismissal. In total, Binance is expected to lay off about 20% of its 8,000 employees worldwide.
Layoffs in the cryptocurrency business could have serious consequences, says Wu Blockchain. Firstly, it can affect the morale of the rest of the staff, reducing productivity. Secondly, to drop market confidence, thereby affecting the price of crypto assets.
Responding to media inquiries, Binance representatives assured that the staff reduction was not related to optimization issues.
“We periodically review how best to allocate our talents to the right teams and resources. Sometimes this inevitably leads to the dismissal of some employees who may not perform well or do not fit in with the company’s culture,” said a Binance representative.
In mid-May, the Binance exchange announced its withdrawal from the Canadian market due to the difficult regulatory environment in the country.
2023-05-31 17:05:00
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