
Binance cutting staff, dodging Canadian regulatory probe
Binance undergoes "re-evaluation" of its workforce, cutting down about one-fifth of its total manpower who are either underperforming or might not be "the right cultural fit."
Binance undergoes "re-evaluation" of its workforce, cutting down about one-fifth of its total manpower who are either underperforming or might not be "the right cultural fit."
All 50 employees in Disney's metaverse division will see their employment contracts terminated except for the division's head, Mike White, who steered the consumer product unit operations.
Mark Zuckerberg announced another round of massive layoffs, just days after winding down NFT integrations, even as his focus seemingly turns to AI from metaverse.
Only two months since entering 2023, thousands have been laid off in the digital currency industry, but hopes of a bull market remain, though it may not likely be the same as before.
Polygon claims it maintains a healthy cash reserve, stating that the move was an internal restructuring move designed to “crystallize” its strategy for the coming years.
Dapper Labs CEO Roham Gharegozlou announced the layoffs in an email to investors, just three months after the NBA Top Shots maker initially laid off 20% of its team.
Kraken also laid off some employees in the MENA region and suspended AED but maintains that clients in the region will still have access to the platform.
Around 100 workers of Prime Trust were terminated as the firm faces financial woes brought about by COVID-19, with some sources saying the company also took a hit from the events in 2022.
According to the ESD's Worker Adjustment and Retraining Notification (WARN), the terminations are expected to take effect on April 2 in line with the regulatory guidelines.
The affected employees were offered 12 weeks of pay and health care coverage for three months, including the perks of allowing laid-off staff to remain shareholders of the firm.
It's estimated that the firm will cut 330 jobs, mostly in its marketing department, giving some insight into how industry insiders view the growth prospects of exchanges in the near-term future.
In a 'town hall' meeting on January 25, U.K.-based digital assets exchange Luno revealed that around 35% of them were out of a job.