Amber Group says it's 'business as usual' amid reports of more layoffs

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 53%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Amber Group is reassuring clients and stakeholders that it is “business as usual” at the firm following reports that the company laid off staff.

“Weathering through market cycles, we have to constantly adjust and pivot our business strategies, product offerings, and, as a result, internal teams and functions,” Amber Group said in a statement.

Chinese-language social media posts have raised concerns that former employees have not received agreed-upon compensation following the layoffs. Employees also said they have had difficulties contacting senior management, including CEO Michael Wu. Amber Group did not respond to a request from The Block for comment.

To add to the confusion, staff based in China were also told not to come back to offices due to the coronavirus pandemic in an email on Dec. 5. One Twitter user asked the company's head of business development Annabelle Huang if their funds were safe."It is. We continue to operate business as usual. If you have any concerns, withdrawals are open as usual," sheValued at $3 billion in February during a $200 million raise, Amber Group failed to raise again at a higher valuation between $5 billion and $8 billion due to the market downturn.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 464. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why Gen Z will be a challenge for your business - Dallas Business JournalAs with any new generation that enters the workforce, managers have been flummoxed by Gen Z. Experts say many businesses have a serious Gen Z problem they'll have to address to be successful, but it has nothing to do with the generation's vocal opinions, its willingness to change jobs or its work ethic.
Source: DallasBizNews - 🏆 525. / 51 Read more »

SVB Financial Group names longtime executive Erin Platts to lead SVB Private - San Francisco Business TimesIn banking news, SVB_Financial names a longtime exec to oversee a key growth avenue for the company
Source: SFBusinessTimes - 🏆 78. / 68 Read more »

Why the labor shortage is likely to continue in 2023 - Phoenix Business JournalThere are just a small number of cracks in an otherwise strong market for employees. Experts say it will affect employers' hiring in 2023.
Source: phxbizjournal - 🏆 254. / 63 Read more »

OneTen, National Student Clearinghouse team up on employment of Black Americans - Phoenix Business JournalOneTen currently works with over 70 companies across industries, including many household names such as Bank of America Corp., Deloitte LLP, Walmart Inc., Nike Inc. and General Motors Corp.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Best practices for avoiding a toxic workplace - Phoenix Business JournalExperts say a toxic work environment can have significant consequences for employees. Here are some best practices for identifying and preventing toxic workplace cultures.
Source: phxbizjournal - 🏆 254. / 63 Read more »