-: FOLLOW US :- @theinsaneapp
Crypto exchange Crypto.com has cut its workforce worldwide by 20 percent.
-: FOLLOW US :- @theinsaneapp
It was announced on Friday as it battles the continuing economic headwinds and "unforeseeable" industry-related circumstances.
-: FOLLOW US :- @theinsaneapp
This is the second major layoff at the Singapore-headquartered Crypto.com.
-: FOLLOW US :- @theinsaneapp
This cut off 250 jobs in the middle of the year. However, the report indicated that more than 2,000 workers were let go or resigned at the company's discretion.
-: FOLLOW US :- @theinsaneapp
The company has not yet revealed the roles removed in the latest round of layoffs.
-: FOLLOW US :- @theinsaneapp
They blamed the failure of FTX, the company whose misappropriation of customers' funds and its bankruptcies "significantly affected confidence in the industry."
-: FOLLOW US :- @theinsaneapp
“We grew ambitiously at the start of 2022, building on our incredible momentum and aligning with the trajectory of the broader industry."
-: FOLLOW US :- @theinsaneapp
"That trajectory changed rapidly with a confluence of negative economic developments,” said Kris Marszalek, co-founder and CEO of Crypto.com.