Indian Crypto Exchange CoinSwitch Cuts Support Team, Citing Market Doldrums

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The firm laid off 44 employees from the team, which still has 82 members.

Indian crypto investment platform CoinSwitch cut its customer support team by more than a third, citing low market activity.

The 44 job losses, which occurred about three weeks ago, amount to just under 7% of total employees, a company spokesperson told CoinDesk. The firm has hired around 60 people since April, mostly in product tech and compliance, for a total employee strength of around 640 before the layoffs. The customer support team still has 82 members.

CoinSwitch is not alone in needing to adapt to a changed environment. Earlier this month, rival CoinDCX

 

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