Bitfarms layoffs — Apr 8, 2020

Bitfarms Cuts Staff Amid COVID-19 Pandemic on April 8, 2020

Bitfarms reduced its staff size on April 8, 2020, amid the economic disruption caused by the COVID-19 pandemic. The company did not disclose how many jobs were cut or what percentage of its workforce was affected.

The layoff was tied to market conditions, according to the available source summary. No direct quote from company officials was provided in the source material.

Bitfarms is a layer-1/protocol crypto company. The company’s business context places it within the broader blockchain infrastructure sector, though the source did not provide additional operational details about how the cuts would affect its business.

No forward-looking guidance or additional restructuring details were included in the source. Based on the available information, the company’s staffing reduction was part of a broader response to the market impact of the pandemic.

Sources: Google News