{"id":72457,"date":"2023-01-13T10:05:23","date_gmt":"2023-01-13T08:05:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72457"},"modified":"2025-09-08T15:20:10","modified_gmt":"2025-09-08T12:20:10","slug":"crypto-com-to-cut-20-of-its-workforce","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-com-to-cut-20-of-its-workforce\/","title":{"rendered":"Crypto.com to cut 20% of its workforce"},"content":{"rendered":"<p>Crypto.com, the cryptocurrency platform, announced a new wave of layoffs amid weak market conditions and &#8220;recent developments in the industry&#8221;. The workforce reduction will affect about 20% of the staff, CEO Kris Marsalek said.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Today we announced the difficult decision to reduce our global workforce by about 20%.<\/p>\n<p>\u2014 Kris | Crypto.com (@kris) <a href=\"https:\/\/twitter.com\/kris\/status\/1613757935062253570?ref_src=twsrc%5Etfw\">January 13, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I remain confident in our business and in the future of cryptocurrencies, but I acknowledge that we have a lot of work ahead to help restore trust in the industry. This will take time, but we will do it,&#8221; the platform&#8217;s chief wrote.<\/p>\n<\/blockquote>\n<p>According to him, the decision was driven by negative macroeconomic conditions and the collapse of FTX.<\/p>\n<p>In June Marsalek <a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-chief-announces-layoffs\">announced a workforce reduction of 260 employees<\/a> \u2014 5% of Crypto.com&#8217;s total workforce. By the end of summer the number of laid-off workers allegedly rose eightfold.<\/p>\n<p>In October, the platform slashed its headcount by <a href=\"https:\/\/forklog.com\/en\/news\/media-crypto-com-cuts-more-than-2000-staff\">about 40%<\/a> \u2014 leaving more than 2,000 employees out of work, according to the press.<\/p>\n<p>The trend of mass layoffs in crypto companies began in 2022 amid unfavorable market conditions. According to journalist Colin Wu, by early December <a href=\"https:\/\/forklog.com\/en\/news\/events-and-trends-how-the-bitcoin-industry-changed-in-2022\">layoffs had affected more than 10,000 people<\/a>.<\/p>\n<p>Earlier, ConsenSys said it planned to part ways with <a href=\"https:\/\/forklog.com\/en\/news\/consensys-reportedly-plans-to-lay-off-more-than-100-employees\">100 or more employees<\/a>.<\/p>\n<p>In January 2023, Coinbase <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-to-lay-off-20-of-staff-in-third-round-of-layoffs\">announced the layoff of 950 people<\/a> as part of reducing operating expenses by 25%. In the summer of 2022, the Bitcoin exchange <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-to-cut-about-18-of-its-staff\">slashed its headcount by 18%<\/a>, and in the autumn it <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-cuts-more-than-60-jobs\">reduced 60 employees<\/a>.<\/p>\n<p>Earlier, Blockchain.com said it would <a href=\"https:\/\/forklog.com\/en\/news\/blockchain-com-to-cut-a-quarter-of-its-staff\">lay off 110 employees<\/a> (28% of its staff) as part of cost-cutting measures in the crypto-winter.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto.com, the cryptocurrency platform, announced a new wave of layoffs amid weak market conditions and &#8220;recent developments in the industry&#8221;. The workforce reduction will affect about 20% of the staff, CEO Kris Marsalek said.<\/p>\n","protected":false},"author":1,"featured_media":72458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1452],"class_list":["post-72457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-crypto-com"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=72457"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72457\/revisions"}],"predecessor-version":[{"id":72459,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72457\/revisions\/72459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/72458"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=72457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=72457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=72457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}