Cryptocurrency company Binance is the latest to join the list of ongoing layoffs. According to a report by The Wall Street Journal, Binance has laid off more than 1000 employees.
Binance’s decision to lay off employees may lead to a significant reduction, amounting to one-third of its total workforce. Such a move has the potential to severely impact the operations of the crypto giant. The report reveals new layoffs impacted the employees in the customer service department. The job cuts were global and around 36 employees were laid off in India.
A spokesperson from Binance confirmed to WSJ that there were employee layoffs, but they chose not to disclose the exact number of individuals affected. “As we prepare for the next major bull cycle, it has become clear that we need to focus on talent density across the organization to ensure we remain nimble and dynamic. This is not a case of rightsizing, but rather, re-evaluating whether we have the right talent and expertise in critical roles,” the Binance spokesperson told WSJ.
On the other hand, Binance CEO, Changpeng Zhao has denied the news of any layoffs. Zhao took to Twitter to talk about the issue. He tweeted, “As we continuously strive to increase talent density, there are involuntary terminations. This happens in every company. The numbers reported by the media are all way off. 4 FUD. On the bright side, they just can’t resist talking about us. We are still hiring. ????”
Binance’s decision to lay off employees may lead to a significant reduction, amounting to one-third of its total workforce. Such a move has the potential to severely impact the operations of the crypto giant. The report reveals new layoffs impacted the employees in the customer service department. The job cuts were global and around 36 employees were laid off in India.
A spokesperson from Binance confirmed to WSJ that there were employee layoffs, but they chose not to disclose the exact number of individuals affected. “As we prepare for the next major bull cycle, it has become clear that we need to focus on talent density across the organization to ensure we remain nimble and dynamic. This is not a case of rightsizing, but rather, re-evaluating whether we have the right talent and expertise in critical roles,” the Binance spokesperson told WSJ.
On the other hand, Binance CEO, Changpeng Zhao has denied the news of any layoffs. Zhao took to Twitter to talk about the issue. He tweeted, “As we continuously strive to increase talent density, there are involuntary terminations. This happens in every company. The numbers reported by the media are all way off. 4 FUD. On the bright side, they just can’t resist talking about us. We are still hiring. ????”
Evernote laid off employees in the US
Recently, Evernote has laid off the majority of its US and Chile-based employees. As a part of the layoffs, the Italy-based parent company Bending Spoons is moving Evernote’s operations to Europe.
According to a report by Techcrunch, Bending Spoons acquired Evernote in November 2022, and at the time, Evernote CEO was quoted as saying the deal would help the company work on building new features, using Bending Spoons’ “proven app expertise and wide range of proprietary technologies.” In February, the company slashed 129 employees, with a Bending Spoons representative saying that the company’s unprofitable nature was “unsustainable in the long term,” the report added.
function loadGtagEvents(isGoogleCampaignActive) { if (!isGoogleCampaignActive) { return; } var id = document.getElementById('toi-plus-google-campaign'); if (id) { return; } (function(f, b, e, v, n, t, s) { t = b.createElement(e); t.async = !0; t.defer = !0; t.src = v; t.id = 'toi-plus-google-campaign'; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s); })(f, b, e, 'https://www.googletagmanager.com/gtag/js?id=AW-877820074', n, t, s); };
window.TimesApps = window.TimesApps || {}; var TimesApps = window.TimesApps; TimesApps.toiPlusEvents = function(config) { var isConfigAvailable = "toiplus_site_settings" in f && "isFBCampaignActive" in f.toiplus_site_settings && "isGoogleCampaignActive" in f.toiplus_site_settings; var isPrimeUser = window.isPrime; if (isConfigAvailable && !isPrimeUser) { loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive); loadFBEvents(f.toiplus_site_settings.isFBCampaignActive); } else { var JarvisUrl="https://jarvis.indiatimes.com/v1/feeds/toi_plus/site_settings/643526e21443833f0c454615?db_env=published"; window.getFromClient(JarvisUrl, function(config){ if (config) { loadGtagEvents(config?.isGoogleCampaignActive); loadFBEvents(config?.isFBCampaignActive); } }) } }; })( window, document, 'script', );
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
