Bybit layoffs — Dec 6, 2022

Bybit to Cut 30% of Workforce on Dec. 6, 2022 as Bear Market Pressures Crypto Industry

Bybit said on Dec. 6, 2022, that it will let go of 30% of its workforce as the crypto market downturn continues to weigh on the industry. The exchange did not disclose the total number of jobs affected.

The company said the layoffs are tied to broader market conditions, with the bear market cited as the reason for the reduction. Bybit did not provide additional details on which teams or regions would be impacted.

Bybit is a cryptocurrency exchange, a business that provides trading services for digital assets. Like other crypto firms, it has faced a more difficult operating environment as market activity has slowed during the downturn.

No further outlook or timeline for the workforce reduction was disclosed in the source material.

Sources: Google News