Vauld Lays off 30% Workforce – 25+ Employees

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Crypto exchange – Vauld has laid off 30% of its workforce amidst the crash in crypto prices, taxation fears and drastic fall in volumes, according to people aware of the matter.

Darshan Bathija, co-founder and CEO of the exchange, confirmed the development to Moneycontrolin an e-mailed query. The roles that were impacted include those related to marketing, talent acquisition and others, he said.

“Two months of their salaries paid as a severance payment and retain their signing and/or joining bonus, 12 months health insurance for them and their family, and our talent team working closely with them to find a great place to work,” said Bathija.

Additionally, the company will be looking at reducing marketing expense, slowing hiring, reducing executive compensation by 50 percent and pausing most vendor engagements.

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