Another multinational company announced layoffs, the company laid off 1000 people

Layoff News: Cryptocurrency company Binance has laid off a large number of people. Binance has laid off more than 1,000 employees, The Wall Street Journal reported. According to the report, the layoffs have affected employees of the company’s customer service department. The layoffs are global, with around 36 employees from India also losing their jobs.

After such a large number of layoffs, Binance’s workforce could be reduced by a third. Such a decision is likely to have a serious impact on the operations of the crypto giant.

A spokesperson of the company told the Wall Street Journal that it is preparing for the future and recruiting the most talented individuals to ensure the growth of the organization. Meanwhile, a spokesperson has confirmed the layoffs but did not say how many employees have been fired under it.

On the other hand, Binance CEO Changpeng Zhao has denied news of any layoffs. Zhao tweeted about it, "As we continually strive to increase talent density, involuntary terminations occur. It happens in every company. The figures reported by the media are totally wrong. Good thing they can’t stop talking about us. We are still hiring."

Earlier, apart from India’s big startup Unacademy, global tech giants Meta and Google have also done massive layoffs. While Unacademy has laid off 6,000, Google and Meta have laid off more than 10,000 employees under layoffs. Apart from this, recently Italy-based company Evernote has laid off most of its employees based in America and Chile.

Half of the year 2023 has passed and in the first half of the year, the global job crisis has deepened so much that everywhere Clouds of anxiety have gathered. In the first half of the year, more than 2.12 lakh employees lost their jobs globally, be it big tech companies or startups, the situation is the same. The situation in the global technology sector in the first half of 2023 is becoming more alarming.

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