eToro downsizes global workforce citing market conditions
The company cites the current market conditions as one of the reasons for the move; the layoffs will affect around 100 employees, with 55 of them from eToro operations in Israel.
Latest layoff News
Scandal-ridden Compass Mining lays off 15% of workforce, slashes exec salaries by 50%
Just weeks after its CEO and CFO resigned, Compass Mining has announced layoffs and salary cuts, claiming it grew too fast as the bear market claims more victims.
Hong Kong: OSL digital currency exchange lays off employees
OSL spokesperson also noted that the exchange had adjusted its business model to focus more on software-as-a-service, as well as professionals and institutional services.
Australian digital currency exchange Banxa slashes headcount by 30%
Banxa CEO Holger Arians stated that the company is anticipating another "crypto winter" and needs to reduce costs, or its success could be threatened in the long run.
Austrian exchange Bitpanda lays off 30% of staff, says it expanded too fast
Bitpanda joins hundreds of firms that are laying off their staff as the ‘crypto’ winter bites, with the exchange saying its expansion was unsustainable.
BitOasis exchange lays off employees amid market downturn
BitOasis disclosed laying off about five percent of its employees, which the CEO and Co-Founder, Ola Doudin, said is equivalent to nine employees across its offices in Dubai, Abu Dhabi, and Amman.
The CoinGeek Pulse Episode 92: Massive layoffs, Terraform Labs faces new lawsuit, Twetch sells out Cozy Hoodie
Gone in 60 seconds! This is what happened when Bitcoin-powered Twetch dropped its latest NFT collection, "Cozy Hoodie," during its launch on Wednesday this week.
Are you a Krakhead? A Kraken manifesto parody
CoinGeek has obtained a document that purports to be an early draft of the ‘Kraken Culture Explained’ manifesto that the U.S.-based cryptocurrency exchange Kraken released last week. CoinGeek makes no claims regarding the veracity of the following text.
Coinbase turfs 18% of its workforce as ‘crypto’ winter freezes Armstrong’s heart
Coinbase has tossed nearly one-fifth of its workforce overboard as the struggling digital currency exchange struggles to stay afloat following inept leadership decisions.
BlockFi cuts 20% of workforce citing market downturn
BlockFi founders Zac Prince and Flori Marquez said that "market conditions that have had a negative impact on our growth rate," driving their decision to make the job cuts.
Coinbase-backed Rain exchange in the Middle East lays off employees amid digital currency sell-off
Rain Financial Inc., described as one of the biggest digital currency exchanges in the Middle East, says the layoffs were necessitated by the market downturn.
Robinhood axes 9% of full-time employees
The layoffs will help Robinhood to improve efficiency, increase velocity, and ensure that it can adapt to changing needs of users, according to the company.