Crypto.com is laying off employees in the worst second cut

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.

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 everyones 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 theyve fired over 1,000 workers when theyve officially announced that theyll lay off 260 employees," an Crypto.com employee had posted on LinkedIn "Theyve deleted the directory for the company, so we arent able to see the numbers go down.

Its 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 its laying off 250 employees, which is around 5 percent of the companys workforce.

The CEO Kris Marszalek said the companys 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/dp.