Binance lays off non-performers amid shrinking market share

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BREAKING: Binance lays off non-performers amid shrinking market share

The move comes two months after Binance said it had no plans to cut jobs.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Binance has laid off a portion of its workforce as the crypto exchange behemoth’s market share continues to shrink.about Binance’s layoffs, a spokesperson of the exchange told The Block, “We periodically review how we can best allocate our talent to the right teams with the right resources.

"This is not a case of rightsizing, but rather, reevaluating whether we have the right talent and expertise in critical roles, and therefore we will still be seeking to fill hundreds of open roles. This will include looking at certain products and business units to ensure our resources are allocated properly to reflect the evolving demands of users and regulators," they added.

Binance's total headcount before the move was around 8,000. The exchange declined to comment on the size of the cuts.in March that it is"not planning any layoffs" and is instead trying to fill another 500 roles by the end of June. Binance still has over 300 open positions on its website.the company was planning to increase the number of staff by between 15% and 30% in 2023.

Binance, the world's largest crypto exchange by trading volume, has witnessed a declining market share over the past few months,

 

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