BitPay in Peril? Massive Layoffs Follow Recent Price Hike
Bitcoin’s leading global merchant processor, BitPay, has reportedly begun massive layoffs to cut costs at their Atlanta headquarters. This, in conjunction with this week’s change in “Free Plan” pricing terms point to a situation of financial peril for one of Bitcoin’s most stalwart corporations. You could trace issues all the way back to the BitPay-funded college football “Bitcoin Bowl” last December. The financial outlay was considerable and the return on investment negligible. Boosting the mainstream image of Bitcoin was noble, but it was a three-year annual commitment signed through....
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Is BitPay in trouble? Wind has been caught that one of the world's largest bitcoin payment processors is in the process of performing massive layoffs, and that half its staff will leave its vicinities in order to halt costs and keep up with bitcoin's current pace. A user named Bingo Boingo on qntra.net writes on the website's forum: "According to a known and reliable eyewitness numerous people have been spotted leaving the BitPay office in tears. This suggests rumors of further rounds of layoffs at BitPay. The witness further suggests that the marketing department was hit hard as many....
Rumors of massive layoffs had followed Elon Musk’s acquisition of the social media platform Twitter. Apparently, the billionaire had thought that there were too many employees in the company and that it could be operating with much less. This has finally come to pass after the company had axed more than 3,000 roles less than […]
Tesla CEO and Twitter chief Elon Musk has begun massive layoffs at the social media company. The billionaire explained that there is no choice since Twitter is losing over $4 million a day. “Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists,” he explained. Mass Layoffs at Twitter Twitter’s new boss, Elon Musk, has laid off about 50% of employees at the social media company. The billionaire sent an email to all Twitter....
While the full impact of FTX’s collapse is still unfolding, some have already warned of an increase in layoffs to come “in the months to follow.” The fall of crypto exchange FTX and potential resulting contagion could lead to an acceleration of crypto-company layoffs in the coming months, recruitment specialists warn.A Nov. 14 report from crypto data aggregator platform CoinGecko found that as of Nov. 13, the crypto space has seen 4,695 employees let go in 2022 so far, presenting 4% of staff cuts across all “technology startups.” However, the authors of the report warn that crypto layoffs....
Bitso, one of the biggest cryptocurrency exchanges in Latam, has announced a series of layoffs due to the recent downturn in the cryptocurrency market. The exchange, which has a workforce of 800 workers, has decided to let go of more than 10% of its staff citing a change in the long-term strategy for the company, just when it had announced its expansion to Colombia.
Crypto Exchange Bitso Lays Off Over 10% of Its Employees
Bitso, one of the first cryptocurrency unicorns in Latam, has announced it is taking measures to preserve the operation of the company during the current market....