Huobi Lays off 600 employees – 50% workforce

Huobi is a global blockchain asset financial services provider and is laying off 50% of its overall workforce, That means 600 employees of their overall headcount.

This year has been challenging for crypto-based organizations. Companies that exuded a strong foothold in the crypto space shut shop, the profitability numbers of the ones that managed to stay afloat went downhill, and investors paid a hefty price.

With just a day left for the year to end, another not-so-positive development has shaped up. Chinese Journalist Colin Wu took to Twitter to claim that Huobi is allegedly going to cancel all year-end bonuses. We also stated that the exchange is preparing to lay off nearly half of its team. The size will likely reduce from 1,200 people to 600-800 people. Citing anonymous insider sources, Wu also revealed that Huobi will slash the salaries of senior employees.

As a world-leading company in the blockchain industry, Huobi Group was founded in 2013 with a mission to make breakthroughs in core blockchain technology and integrate blockchain technology with other industries. Huobi Group has expanded into public blockchains, digital assets trading, wallets, mining pools, proprietary investments, incubation, digital asset research, and more. Huobi Group has established a global digital economy industry ecosystem by investing in over 60 upstream and downstream companies in the blockchain industry.

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