New Delhi, Aug 18 : Crypto lending exchange Crypto.com has cut off many more workers in the second round.this time, the dismissal of employees is more severe than the earlier job cuts as the global meltdown in crypto continues to grow. According to an Decrypt report which cites sources the most recent round of job cuts hasn’t been publicly announced.
During the conference call, “leadership expressed they had no intention of making an announcement public.
Top management is not likely to announce an announcement since after the June layoffs they said that everyone’s job was secure and there would be no more layoffs,” the report said late on Wednesday night, according to sources.
The report states that the Singapore-based firm this time fired employees “from essential products such as exchange apps, wallets, and exchange.”
“The company is concealing the fact that they’ve fired over 1,000 workers when they’ve officially announced that they’ll lay off 260 employees,” an Crypto.com employee had posted on LinkedIn.
“They’ve deleted the directory for the company, so we aren’t able to see the numbers go down.It’s not a good thing for morale to know that 1/3 of the list of invitations for your next gathering is missing accounts.” an employee stated.
In June, Crypto.com announced it’s laying off 250 employees, which is around 5 percent of the company’s workforce.
The CEO Kris Marszalek said the company’s strategy is to remain focused on executing its plan and optimizing for profit.
“That requires us to make difficult and important decisions to ensure that we can continue to achieve sustainable growth over the long run by implementing targeted reductions of approximately 5 percent or 260 people of our workforce in the corporate sector,” he had announced.
na/dpb
.
