Sun Yuchen: Huobi plans to lay off about 20%, expected to be completed in the first quarter

ChainCatcher news, according to a report by Reuters, Huobi committee member Justin Sun stated that the cryptocurrency exchange Huobi plans to lay off about 20% of its staff, and that the "structural adjustment" has not yet begun, with expectations to be completed in the first quarter.

Previously, sources indicated at the end of 2022 that Huobi would continue layoffs in 2023, with the scale expected to reach 40%. Currently, Huobi has approximately 1,600 employees. Meanwhile, some Huobi employees will re-sign contracts, recalculate their years of service, and the issuance of the five social insurances and one housing fund subsidy will be canceled. (source link)