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Crypto-exchange huobi plans to lay off 20% of its personnel in the middle of the decline of the crypto market and the fallout from the collapse of crypto exchange ftx.
In the last round of all-on cost reduction through the crypto industry, huobi crypto exchange today confirmed to that the company plans to lay off approximately 20% of its staff. In the last round of all-on cost reduction through the crypto industry, crypto exchange Huobi today confirmed that the company plans to lay off approximately 20% of its staff.
Huobi told Reporters Without Borders: It is not being implemented today.
With current bear market conditions, a very lean team will continue in the future. The declaration to confirm a previous message of its founder justin sun, who said that a "structural adjustment" must begin to huobi soon. Sun, member of the international huobi advisory committee, says in an internal note to company personnel that the company has been like "a fire in the crypto winter" despite the deterioration of the macroeconomic environment. Huobi is headquartered in the Seychelles and has offices in Hong Kong, USA, Japan and South Korea.
It is quoted on the Hong Kong Stock Exchange. He said in a January 5 Tweet, that business development of the exchange was “good” and the “security of users’ assets will always be fully protected.” In addition to dismissals, rumours of which are spreading on Twitter, Sun has also had to respond to insolvency rumours. He said in a tweet on the fifth of January, that the commercial development of the stock exchange was "good" and that "the safety of the property of the users will always be fully protected." at the start of Jan, crypto journalist, colin wu, reported that the sun had changed the salaries of employees from being paid by fiat to being paid by tether or dollar. Earlier in January, crypto reporter Colin Wu reported that Sun had changed the wages of employees from being paid in fiat to being paid in Tether or USD Coin.
He also said that employees who did not agree with the new payment systems were at risk of being fired. Sun dismissed these claims saying that huobi will “fully respect the legal demands of local employees.”justin sun's hr is communicating with all huobi employees to change the salary form from fiat currency to usdt/usdc; Employees who are unable to accept may be laid off. Exclusive https://t.co/QB4sjDyHc7
— Wu Blockchain (@WuBlockchain) January 4, 2023
Https://t. co/QB4sjDyHc7 exclusiveness—
Crypto Firms Off to a Rocky Start in 2023
Huobi’s announcement does not come as the first for 2023. Crypto companies off a difficult beginning in 2023huobi's announcement doesn't come as the first one for 2023. Silvergate Capital Corp, a crypto-focused bank, cut its workforce by 40% and has been forced to abandon some of its projects.
