2023-07-15 01:49:40
The latest report from the Wall Street Journal pointed out that the exchange Binance has recently laid off more than 1,000 employees, and the most serious impact is the “customer service department.” CZ, the CEO of Binance, responded: The company is changing its blood normally, the reported numbers are wrong and it continues to recruit.
(Previous summary: CZ’s letter to all trading users: How to go from only listing 5 tokens to the world’s largest exchange… Binance’s 6th anniversary transformation)
(Supplementary background: WSJ named Binance: executives jumped ship, unknown layoffs! Binance is in a “retreat state”)
Since the cryptocurrency exchange Binance (Binance) was sued by the US Securities and Exchange Commission (SEC), news of layoffs has been frequent. It was also confirmed last week that several top Binance executives had left.
On this occasion, the Wall Street Journal broke the news yesterday (14th) that Binance has laid off more than 1,000 employees in recent weeks.
Wall Street Journal: Binance may lay off a third of its staff
The Wall Street Journal cites sourcesinformationNot long following Binance was affected by the “wave of high-level resignations”, large-scale layoffs occurred, and they continued, eventually fearingCaused Binance to lose a third of its staff (currently regarding 8,000 employees)。
The report quoted former employees of Binance as saying that the most affected by this round of layoffs is the “customer service department”, especially in India, where more than 30 employees will be affected.
The Wall Street Journal believes that Binance is currently facing the most serious and lasting challenge is the ongoing investigation of its company and executives by the US Department of Justice. The refusal of Binance CEO CZ (Changpeng Zhao) to relinquish control and resign may also adversely affect Binance’s living environment.
Further reading:Archyde.com: The U.S. Department of Justice has high-level evidence such as “suing Binance” CZ!But internal divisions stagnated
CZ: The data is wrong, we are still hiring
A spokesperson for Binance quickly responded to a request for comment from The Wall Street Journal, saying that this round of layoffs is in preparation for a bull market cycle:
As we prepare for the next bull cycle, it is clear that we need to focus on talent density across the organization to ensure we can remain agile and dynamic.
CEO CZ also commented on the news of layoffs early this morningRespondedindicating that it is normal for companies to experience involuntary resignation in order to increase talent density:
As we continue to increase our talent density, there will also be instances of involuntary turnover. This happens in every company. The data reported by the media are biased.
…we are still hiring.
As we continuously strive to increase talent density, there are involuntary terminations. This happens in every company. The numbers reported by media are all way off. 4 FUD.
On the bright side, they just can’t resist talking regarding us.
We are still hiring. ????
— CZ ???? Binance (@cz_binance) July 14, 2023
????Related reports????
CZ’s letter to all trading users: How to go from only listing 5 tokens to the world’s largest exchange… Binance’s 6th Anniversary Metamorphosis
WSJ Names Binance: Executives Jump Ship, Unknown Layoffs! Binance is already in a “retreat state”
CZ shares a little secret: the FUD that can’t kill Binance makes Binance stronger
Tags: CZ Binance U.S. Department of Justice Layoffs
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