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Luno, the digital assets exchange that is based in London is, announcing a major reduction in its workforce yesterday.
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The company is experiencing the negative consequences of the winter-long crypto freeze and the turbulence that has swept through the tech industries.
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In the wake of Wednesday's announcement, Luno decided to lay off 35 percent of its staff, more than 300 workers, in every region where the cryptocurrency exchange operates.
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The company, headquartered in London, has locations in Cape Town, Johannesburg, Lagos, Singapore, and Sydney.
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"2022 has been an incredibly tough year for the broader tech industry and, in particular, the crypto market.
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Luno, unfortunately, hasn't been immune to this turbulence, which has affected our overall growth and revenue numbers,"