Changpeng “CZ” Zhao has answered the rumors of mass layoffs at Binance, with reports stating that up to 20% of the current workforce of the exchange might be forced to abandon their positions due to poor market conditions. Zhao declared this was another attempt at spreading FUD on Binance, explaining that the company has a constant “bottom-out policy.”
Changpeng Zhao Calls Layoff Reports ‘FUD’
Changpeng Zhao, CEO of Binance, has answered the rumors about mass layoffs on the exchange. According to Colin Wu, a Chinese cryptocurrency reporter, Binance had plans for laying off a significant part of its workforce, stating that market rumors indicated that at least 20% of the 8,000 employees on Binance could be involved in these layoffs due to poor overall market conditions.
Wu explained employees would be compensated on a case-by-case basis, depending on their situation and place in the company.
Through social networks, Zhao informed that layoffs in Binance were nothing new, cla
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