Recently announced a 20% reduction in its global staff due to ongoing economic headwinds and unforeseen industry events. the decision was made in response to the collapse of ftx and other high-profile businesses such as coinbase, huobi, and superrare labs that have also announced layoffs during the crypto winter. the decision was made in july 2020 and crypto.com ceo kris marszalek remains optimistic about the future of the firm.
Decision to reduce headcount was made in order to position the company for long-term success. crypto.com is aiming to restore trust in the industry and mainstream its services. the economic downturn has been a factor in the decision to reduce headcount, as coinbase recently announced slashing its workforce. crypto.com did not account for the collapse of ftx when making the decision to reduce headcount.
Senior leadership of crypto.com is confident in the vision and mission of the company. the decision to reduce headcount was made to ensure the company is well-positioned for long-term success, despite the crypto winter continuing to bite. crypto.com is aiming to restore trust in the industry and mainstream its services, and the economic downturn has been a factor in the decision to reduce headcount.