Crypto.com Lays Off More Employees in the Second Job Cut Round Amid Global Crypto Meltdown

New Delhi: Crypto lending alternate Crypto.com has laid off extra workers in the second spherical and this time, the firing of workers is worse than the earlier job minimize, as the world crypto meltdown will get deeper. In line with a Decrypt report, citing sources, the newest spherical of job cuts has not been introduced publicly. Cryptocurrency costs in India right now (18 Aug 2022).

Throughout the name, “leadership expressed they had no intention of going public. Top management is unlikely to make an announcement as, after the June layoffs, they claimed that everyone’s job was safe, and that no more layoffs will happen,” the report mentioned late on Wednesday, citing sources.

In line with the report, the Singapore-based firm this time fired individuals “from critical products like exchange, app and wallet.” “The company is hiding the fact that they’ve laid off more than 1,000 employees even though they officially announced laying off 260,” a Crypto.com worker had mentioned on LinkedIn.

“They’ve removed the company directory so we can’t see the numbers go down. It’s not good for morale to see that 1/3 of the invitation list on your next meeting is disabled accounts,” the worker had talked about.

In June, Crypto.com introduced it is shedding round 260 workers, or almost 5 per cent of its workforce. Its CEO Kris Marszalek mentioned the firm’s strategy is to remain targeted on executing in opposition to its roadmap and optimising for profitability.

“That means making difficult and necessary decisions to ensure continued and sustainable growth for the long term by making targeted reductions of approximately 260 or 5 per cent of our corporate workforce,” he had introduced.

(The above story first appeared on OKEEDA on Aug 18, 2022 11:56 AM IST. For extra information and updates on politics, world, sports activities, leisure and way of life, go browsing to our website latestly.com).