{"id":419195,"date":"2023-07-14T22:30:21","date_gmt":"2023-07-14T22:30:21","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=419195"},"modified":"2023-07-14T22:30:21","modified_gmt":"2023-07-14T22:30:21","slug":"binance-cutting-staff-again","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/binance-cutting-staff-again","title":{"rendered":"Binance Cutting Staff Again"},"content":{"rendered":"

Binance, the world’s largest cryptocurrency exchange, is reducing its staff number substantially, contradicting its previous statement that it would be looking to fill numerous open roles and reevaluating its total workforce, as it confronts the most challenging legal pressures in its six-year history. Although the precise number of layoffs is unknown, Binance<\/a> has confirmed that employees are being let go.<\/p>\n

Earlier, Binance’s CEO Changpeng ‘CZ’ Zhao countered media claims on Twitter about the extent of the job cuts. The Wall Street Journal and CNBC previously reported that Binance had dismissed over 1,000 employees and plans to terminate between 1,500 to 3,000 employees, respectively, based on an unidentified source. However, Zhao stated that these figures were significantly inaccurate.<\/p>\n

We can’t confirm the exact number, but we can confirm that layoffs have happened.<\/p>\n

Binance<\/a> had an earlier global workforce of about 8,000, according to the company. The cryptocurrency<\/a> giant reiterated in a pre-written statement, first unveiled in May, that it was not necessarily “rightsizing.” Instead, it was reassessing to ensure the “right talent” was part of its workforce.<\/p>\n

In an interview, a representative from Binance confirmed the layoffs, saying, “We can’t confirm the exact number, but we can confirm that layoffs have happened.” Simultaneously, Zhao posted on Twitter<\/a> that there were “involuntary terminations,” but the company continued to hire.<\/p>\n

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As we continuously strive to increase talent density, there are involuntary terminations. This happens in every company. The numbers reported by media are all way off. 4 FUD. <\/p>\n

On the bright side, they just can’t resist talking about us.<\/p>\n

We are still hiring. 🤝<\/p>\n

— CZ 🔶 BNB (@cz_binance) July 14, 2023<\/a><\/p><\/blockquote>\n