Huobi cryptocurrency exchange to cut staff in ‘bear market’
- Huobi is cutting its staff by 10% in a “bear market
- The reductions will help the company optimize its resources and better serve its customers.
- Huobi’s commitment to maintaining its leadership is commendable.
China’s largest digital asset exchange Huobi is cutting its staff by 10% in a “bear market”, the company said on Monday, as the industry undergoes a restructuring and consolidation. Huobi, which has been on a hiring spree in recent months, said the staff reduction, which will affect both technical and operational staff, is in line with its “business restructuring plan”.
The company said that it will also be freezing new registrations and that a hiring freeze will be in place indefinitely.
Huobi Group Limited, one of the world’s leading digital asset exchanges and ICO platforms
According to Huobi, the staff reductions will help the company optimize its resources and better serve its customers. The staff reductions will be implemented within the company’s business units and will not impact customer support.
Huobi is one of the few exchanges that has not been affected by the global financial crisis. The company’s robust funding and investment base have allowed it to remain operational and continue to provide innovative products and services to its customers.
The company pledges that it will continue to provide its customers with a wide range of financial products and services, including securities, derivatives, coins and financial products.
Huobi emphasizes the importance of sound financial planning and management in order to weather the current bear market
Huobi has long been a leading player in the digital asset industry and its commitment to maintaining its leadership is commendable.
The company is hoping that this reduction in its workforce will help it to “strengthen its balance sheet and better manage risks”.
Posted Date: July 6, 2023
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