Crypto.com Internal Restructuring Laying Off More Than 30%-40% Of The Workforce

Amid a sharp market downturn earlier this year Singapore crypto exchange Crypto.com began cutting staff, has about 2,000 employees, or 30%-40% of its workforce, since last summer.

It was previously reported that Crypto.com had laid off 1,000 employees, including marketing staff and an in-house creative team hired just a few months earlier.

In addition, it ambitious marketing plans and trademark transactions were affected. After withdrawing its sponsorship with two UEFA Champion League teams worth $495 million last month and Los Angeles-based soccer team Angel FC, it has now also withdrawn its sponsorship deal. with the e-sports league of the streaming service Twitch.

However, this is considered a restructuring in the mind of Crypto.com and is expected to end this July to strengthen its position in the industry as well as in the context of the market being affected by the Macroeconomic conditions affect most industries.

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