Kraken layoffs — Dec 28, 2022

Kraken announces layoffs on December 28, 2022, with job cuts undisclosed

Kraken said on December 28, 2022, that it would shutter its Japan operations after a broader round of layoffs tied to market conditions. The exchange did not disclose how many jobs were cut or what percentage of its workforce was affected.

The company’s move came as part of a wider reduction in response to the market environment. In the information available from Google News, Kraken’s stated reason for the layoffs was categorized as market-related, but no further details on the size of the workforce reduction were provided.

Kraken is a cryptocurrency exchange that offers trading and related services to users in the digital asset sector. The decision to close its Japan operations indicates a change in the company’s regional footprint following the layoffs, though the company did not provide a detailed outlook in the source material.

No direct quotes from company officials were included in the source text provided. Based on the available reporting, Kraken’s announcement centered on restructuring in response to market conditions, with the Japan shutdown presented as part of that broader adjustment.

Sources: Google News