Roehl Niño Bautista · · 1 min readSingapore-based Crypto.com to lay off 260 employees
Singapore-based Crypto.com will let go of around 260 employees (5% of its workforce) to stay on track with its profitability goals and “ensure continued and sustainable growth for the long term.”
Photo credit: skorzewiak / 123rf
“Our approach is to stay focused on executing against our roadmap and optimizing for profitability as we do so,” said its CEO Kris Marszalek on Twitter.
The retrenchments come amid a drop in cryptocurrency values. Bitcoin is now worth half of its peak while Luna crashed below the dollar. But Marszalek expects to ride the bull run when the market turns.
Crypto.com joins a spate of companies conducting layoffs across Asia, with India seeing more than 6,000 employees fired from startups in March.
Track all the layoffs across Asia here and help us maintain this list by filling this form with any information on job cuts and affected employees.
Editing by Miguel Cordon and Joy Tirkey
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