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Binance Plans Layoffs in June amid Growing Regulatory Scrunity
After noting earlier this year that it would not dismiss its employees, Binance is executing a new round of layoffs in June. This follows a massive downsize in the crypto space in January when it assured increasing its headcount by 15% to 30% in 2023. A couple of months after, the company added in March that it was not planning to discharge its workers.
Recently, Wu Blockchain confirmed in a tweet that the June layoffs have started, and the rumor is that about 20% of the 8,000 workers would be affected. Additionally, the tweet revealed that the victims would receive compensations which would be based on different situations in different jurisdictions. Despite the planned layoffs for June, some departments within Binance are still recruiting more talent. Notably, the company is currently experiencing a shrinking market share.
Binance Announces June Layoffs amid Scrutiny
According to Binance, the June layoffs
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