CoinSwitch crypto exchange is the latest crypto trading platform in India that cut its workforce amid the prolonged cryptocurrency winter, the local news agency MoneycontrolThe Indian crypto exchange has reportedly laid off 44 employees from its customer support division in August, citing redundancy in roles amid the bear market-triggered lack of customer queries.
“We continuously evaluate our business to stay competitive, prioritizing innovation, value, and service for our customers. To that end, we right-sized our customer support team to align with the present volume of customer queries on our platform,” CoinSwitch said. The firm added that this impacted the roles of 44 members of its support team, who “voluntarily resigned from their roles after a detailed discussion with their managers.
44 employees account for a significant share — or roughly 8% — of CoinSwitch’s total headcount. According to CoinSwitch’s LinkedIn page, the firm519 employees at the time of writing. The firm didn’t immediately respond to Cointelegraph’s request to comment. The news about CoinSwitch’s layoffs came just about a week after another major local exchange, CoinDCX, also cut its staff by 12%. According to LinkedIn, the firm“We are making the difficult decision to reduce the size of our team by about 12% and some of our incredibly talented team members will be parting ways with the organization,” CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal
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