Following Coinbase and Crypto.com, news reveals: Exchange Bybit is laying off employees, CEO expresses gratitude for the encounter

In the bear market, Coinbase announced an 18% workforce reduction, Crypto.com announced a 5% layoff, and another international exchange Bybit is also reported to be downsizing.

In the bear market, Coinbase announced a layoff of 18%, Crypto.com announced a layoff of 5%, and another international exchange Bybit is also reported to be laying off employees.

Sources revealed that Bybit's founder Ben Zhou issued an internal memo to all employees, stating that the company will reassess some positions, inevitably impacting existing employees. Economic compensation and counseling will be provided to the affected employees. Sources indicated that the layoff may exceed 15%.

Several media outlets have received the same information from the internal memo of Bybit.

多个消息源对吴说确认，全球最大的交易所之一 Bybit 今日发布内部信，宣布将在本周启动裁员。内部信称组织增长了3倍但平台的收入没有同等量级的增加，号召在熊市解决内部的效率和资源浪费等问题。Bybit 将提供补偿金与员工辅导热线。 pic.twitter.com/KyqYo57zfd

— 吴说区块链 (@wublockchain12) June 20, 2022

In addition, there have been reports of layoffs in blockchain companies in Taiwan; during the prolonged bear market period of 2018, there were multiple layoffs, consolidations, and closures. The downsizing of several well-known companies in 2022 once again symbolizes the overall decline of the market.