The company continues to hire
Binance, the world’s largest crypto exchange by market capitalization, has reacted to reports that the company has drastically cut staff.
Binance, which has a total workforce of around 8,000, was reported to have laid off 20% of its workforce, or 1,600 people. According to rumors, this happened against the background of changes in the general conditions of the cryptocurrency market.
Binance commented on reports of a mass layoff of 1600 people
However, Binance CEO Changpeng Zhao said that this is incorrect information, although he does not deny that the company regularly fires people who are not suitable for it. However, there is no fixed cut percentage. The CEO also stated that the crypto exchange is still hiring more people than it is firing.
In addition, Binance Chief Communications Officer Patrick Hillman revealed that the firm is not cutting 20% of its staff to manage costs, contrary to rumors.
On Twitter, Hillman said the cryptocurrency exchange has seen impressive growth in five years, adding that the company is constantly “auditing staff density.”
