“With the current state of the bear market, a very lean team will be maintained going forward,” Huobi crypto exchange said.
Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm.
“The planned layoff ratio is about 20%, but it is not implemented now,” a spokesperson for Huobi said in a statement to Cointelegraph on Jan. 6. The representative emphasized that the allegations on Huobi firing as many as 40% employees is a rumor. Huobi has established a new organizational structure after the new shareholders have taken over, the spokesperson said, adding that the firm has adjusted the business departments.
“With the current state of the bear market, a very lean team will be maintained going forward. The personnel optimization aims to implement the brand strategy, optimize the structure, improve efficiency and return to the top three,” Huobi said.purported insolvency“We are aware of the comments regarding the Huobi App and the safety of user assets. Such unfounded and inflammatory rumors not only damage Huobi's brand image, but ultimately affect the interests of Huobi users.
“From what I know, there was a management shakeup first,” the former employee noted, asking to remain anonymous. According to the source, Huobi Group chief financial officer Lily Zheng left the company a couple of months ago as well.
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