Bithumb to Reduce 50% of Its Staff
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South Korea's largest cryptocurrency exchange Bithumb plans to cut about 50% of the state. At the moment, the company employs 310 people.

Bithumb confirmed this information, stating that it expects those departing will mostly be employees who already want to leave the company.

"Voluntary retirement is part of our support program for former employees and is intended to provide assistance and training for job placement. Apart from that, trading volume has decreased compared to the previous year, we are trying to provide internal measures. We will continue to add necessary personnel for various new businesses," added a representative from Bithumb.

Earlier, representatives of the Huobi Group confirmed that since November 2018, mass cuts had begun in the company: about a third of the state was dismissed by the new year.

Moreover, Ethereum Co-founder and ConsenSys CEO, Joseph Lubin, cut 60% of the company's employees to reduce costs.

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