It seems that more and more crypto companies are laying off their employees. The only difference between them and Gemini and Coinbase is that they apparently did so in secret. The layoffs happened some time ago and didn’t hit the news before now. One would assume that the companies involved likely sought to avoid publicity for the move given the amount of chaos the aforementioned institutions received for their actions. between the Companies to allow employees Joe is a famous cryptocurrency exchange Crypto.com.
More than 200 Crypto.com employees are now unemployed
Crypto.com is alleged to have laid off as many as 260 employees, roughly five percent of its workforce. It was also reported that the layoffs did not stop there and that the company eventually laid off hundreds of other people. Due to the lack of interest in the topic, it is difficult to know or guess how many people are likely to be laid off from their job at the company.
An anonymous person claiming to be close to action with Crypto.com and its launches explained in a recent interview:
People in the company have recently noticed many employees disappearing from internal slack or scheduled meetings. We’ve confirmed that layoffs will affect five percent, just 260 employees. Due to the lack of internal transparency, one can only appreciate the extent of this round of layoffs. We increased our staff through [around] 50% since 2021, nearly all of them hired to support growth. Now it appears that those 1,300 additional employees are being seen as costs that must be cut to save the business.
In a recent Q&A, Crypto.com CEO Kris Marszalek stated that since the company is a private company, it does not have to follow the same protocols as public companies and show who has been abandoned or how many people have lost their jobs. He said:
I want you to understand that this is a private company, and we don’t have to follow the general rules of the game for an American company… There doesn’t have to be an advertisement, nor should there be a blog post. Of course, everyone is always interested in the number. The number makes a great headline. It’s great that you talk about it, but as a co-owner of this company, you should be asking yourself, “Is it in my best interest for this number to exist?” I’ll leave it at that.
People talk online
Several former employees have gone to Glassdoor to express their disappointment with the company and describe the situation to readers. One review explains:
The company is hiding the fact that it has laid off more than 1,000 employees. They removed the company directory so we don’t see the numbers go down. The administration has been silent on the issue, and everyone is terrified that their job will be next.
#Crypto.com #laid #hundreds #workers