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Crypto exchange Gemini executes second round of layoffs less than two months after axing 10% of staff – TechCrunch

Crypto exchange Gemini executes second round of layoffs less than two months after axing 10% of staffJust seven weeks after crypto exchange Gemini cut approximately 10% of its workforce due to “turbulent market conditions,” the startup has made a second round of layoffs, TechCrunch has learned, and there may be more on the way.
The company had not widely communicated the extent of Monday’s layoffs internally, leaving employees to speculate on the exact number of co-workers laid off in this most recent downsizing.
A source close to the company noted that there was a reduction of 7%, or 68 members, in Gemini’s company-wide Slack channel Monday morning.
The document highlighted a plan that would take the company to about 800 employees, which was around 15% fewer than the 950 employees at the time.
A number of other firms including Crypto.com, Coinbase and Bybit also cut staff amid crypto market volatility.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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