Even as the cryptocurrency market recovers from a spell of downturn in recent months, the crypto layoffs continue. Crypto bigwigs like Coinbase and Gemini were not spared from financial difficulties a...
Tag: layoffs
CoinFLEX Announces ‘Significant’ Layoffs Amid $84M Dispute With ‘Bitcoin Jesus’
Troubled cryptocurrency exchange CoinFLEX is undergoing massive layoffs. “We, unfortunately, had to let go of a significant number of the CoinFLEX team across all departments and geographies,” announc...
Crypto Game Studio Immutable Announces New Layoffs in ‘Small Reorganization’
Immutable Games Studio is letting go of multiple employees, including one of its senior game designers, amid a slump in crypto prices. James Wakeham worked as a lead designer on Immutable’s crypto gam...
Crypto Companies Struggle With Layoffs, but Some See Opportunity to Add Talent; BTC, ETH Soar After Fed Rate Hike
Bitcoin was recently trading at about $22,900, up over 8% for the past 24 hours. The largest cryptocurrency by market capitalization has mostly lingered between $21,000 and $23,000 for much of the pas...
Market jump after Fed hike is ‘trap,’ Morgan Stanley warns investors
Morgan Stanley is urging investors to resist putting their money to work in stocks despite the market’s post-Fed-decision jump. Mike Wilson, the firm’s chief U.S. equity strategist and chi...
Shopify Stock Sets Layoffs, CEO Says ‘I Got This Wrong’
Shopify stock plunged after the e-commerce firm said it will cut roughly 1,000 workers, or 10% of its global workforce, as its chief executive took responsibility for a faulty growth strategy. Includi...
Shopify stock sinks 15% amid layoffs
Shopify’s (SHOP) stock fell as much as 16% on the same day e-commerce platform announced it will cut about 10% of its workforce, or 1,000 workers, by the end of Tuesday. The changes were explain...
Major Exchanges Opt ‘Lay-Offs’ To Defend Market Meltdown
3 hours ago | 2 mins read Exchange News Blockchain.com is reducing about 150 employees, due to financial losses. The exchange recently lost $270 million from Three Arrows Capital. As per reports, Luxe...
Just After The Lay-Offs, Compass Mining is Ready For Expansion
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Crypto Exchange Gemini Reportedly Initiates Second Round of Layoffs
Just weeks after the exchange cut about 10% of its staff due to “turbulent market conditions,” Gemini has had to make a second round of staff cuts according to TechCrunch, and more may be on the way. ...
Crypto Exchange Gemini Axes 7% of Its Staff in Second Wave of Layoffs – Exchanges Bitcoin News
Gemini, the cryptocurrency exchange owned by the Winklevoss twins, is laying off more staff. According to reports, the company is axing 7% of its current workforce, as it engages in significant cost-c...
Crypto exchange Gemini undertakes second round of layoffs: TechCrunch
Crypto exchange startup Gemini has laid off more staff, according to a report from TechCrunch. Gemini reportedly moved to trim its staff further due to “extreme cost cutting.” “The c...
Mass crypto layoffs are a short-term solution with long-term consequences
The past few months have seen a host of crypto companies announcing layoffs in an attempt to cut costs amid a bear market. Now, crypto exchange Gemini has cut an extra 7% of its workforce — on top of ...
Gemini Crypto Exchange Cuts More Staff in Second Round of Layoffs
Gemini has conducted another round of layoffs, according to a TechCrunch report. The company has reduced its workforce by an additional 7% as the effects of crypto winter continue to hit. The Gemini c...
Gemini Executes Second Round of Layoffs: TechCrunch
Crypto exchange Gemini has made the second round of layoffs seven weeks after the crypto exchange cut about 10% of its workforce, citing “turbulent market conditions.” A source in connecti...
Goldman Sachs looking at reinstating year-end job cuts as economic outlook dims
People walk by the New York Stock Exchange on May 12, 2022 in New York City. Spencer Platt | Getty Images News | Getty Images Goldman Sachs has slowed its hiring and is looking to cut the fees that it...
Here Are Latest Crypto Layoffs Amid Bearish Trends
Crypto companies such as Coinbase, BitPanda, Gemini, Bybit have already announced layoffs after huge headwinds with the market crash. More recently, another exchange Huobi was said to be considering m...
NFT Marketplace OpenSea Layoffs 20% Of Its Workforce
Co-Founder and CEO at popular non-fungible token (NFT) marketplace OpenSea, Devin Finzer, announced a reduction in the company’s workforce. The platform will let go of 20% of its staff to adjust to th...
KuCoin CEO Denies Rumors of Massive Layoffs
The crypto exchange KuCoin denied the rumor that it had joined some competitors in massively trimming staff size amid weakened market conditions. Instead, the CEO Johnny Lyu revealed his company will ...
Rivian stock edges lower in late session after layoffs report
Shares of electric-vehicle maker Rivian Automotive Inc. fell about 0.4% in the extended session Monday after ending the regular trading day 6.4% lower following a report that it was planning to lay of...
Rivian planning layoffs that could target about 5% of staff, report says
Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. Justin Sullivan | Getty Images Electric vehicle startup Rivian Automo...
Labor Market Added 372,000 Jobs In June As Layoffs And Recession Fears Grow
Topline The U.S. labor market—one of the economy’s strongest pillars during the pandemic recovery—added back 372,000 jobs in June, performing better than economists projected amid concerns the Federal...
GameStop CFO out, layoffs announced, stock drops
GameStop is making significant changes to its workforce, including laying off staff and investing in store managers and field employees, according to an internal memo and a source familiar with the ma...
GameStop fires its CFO and announces layoffs as part of aggressive turnaround plan
GameStop has fired its Chief Financial Officer, Mike Recupero, and is making staff cuts across departments as part of an aggressive turnaround plan, the videogame retailer announced Thursday. Recupero...
All The Big Layoffs, Record Withdrawals And Bankruptcies Sparked By The $2 Trillion Crash
Embattled crypto lender, Voyager Digital, filed for bankruptcy this week and became the latest casualty of a bear market that will continue to leave a path of destruction in the digital currency secto...
Hot job market and Great Resignation persist despite recession threat
Mixetto | E+ | Getty Images Workers are still reaping the benefits of a hot labor market characterized by few layoffs, ample job openings and a high level of voluntary departures, according to U.S. De...
a summary of recent crypto layoffs
There’s been a sudden change in headwinds for crypto firms over the last two months, with the chaos centered on Celsius Network and Three Arrows Capital spreading among many other companies. This, alo...
3,500 Crypto Specialists Without Work, More Layoffs to Come
Fired! Over 3,500 specialists have been affected by massive cuts in the cryptocurrency market, but it looks like the worst is yet to come. The cryptocurrency bear market has struck a significant blow ...
Huobi to Start Layoffs That Could ‘Exceed 30%’ — Founder May Sell Stake in Company – Bitcoin News
According to the Chinese journalist Colin Wu, otherwise known as “Wu Blockchain,” the cryptocurrency company Huobi may lay off 30% of the firm’s staff due to “a sharp drop in revenue.” Furthermore, th...