- Six of the most important active-type exchange houses in the United States and Latin America have indicated that they will carry out a wave of layoffs.
- This decision was taken as a response to the new macroeconomic circumstances, in addition to protecting its consortia from possible bankruptcy.
If you saw or are a fan of the acclaimed series “Game of Thrones” on the HBO platform, you will surely be familiar with the phrase of the House of Stark, “Winter is coming”.
The inhabitants of this kingdom of Westeros often use this motto to signal that something bad is going to happen (and it does happen), especially since they are located far north of the country and are often the most affected by the cold winters. .
Well, that motto of the Starks can well be applied in real life, mainly in the digital environment in which digital assets live, since The crypto winter is approaching and, although it does not bring with it the white walkers or the Night King, it does bring a wave of bad news for those who live from this virtual business.
The start of the crypto winter has not only begun to affect retail investors, but also the big houses (just like those in Westeros). This is because recently six of the most important active-type exchange houses in the United States and Latin America have indicated that they will carry out a wave of layoffs, in addition to various changes in their hiring policies.
These changes have occurred as a way to respond to the current panorama of new macroeconomic circumstances, in addition to protecting their consortiums from possible bankruptcy or something similar.
2TM lays off staff
One of the last companies to announce such a decision was 2TM Groupa Brazilian firm that is so far one of the largest crypto exchanges in Latin America.
the consortium sHe pointed out that he will carry out a series of layoffs, same that will allow you to stay afloat and safeguard your operations in the future. According to the information mentioned by local mediathe firm stated that will have to lay off just over 10 percent of its operational staffwith 90 workers out of its total workforce of 750.
2TM Group stressed that this wave of layoffs was due to the change in the global financial scenario present today, due to high interest rates and rising inflation.
“Derived from the current market situation, we had to make a series of adjustments that go beyond the mere fact of reducing operating expenses, the decision to lay off some of our employees being equally necessary.”, indicated the firm.
However, as a way of thanking them for being part of the company’s growth, 2TM Group pointed out that the laid-off workers will be able to enjoy a benefits package, which includes an extension of their health plan, in addition to their support to achieve a position in other companies.
Bitso fires 10% of its employees
Other crypto company that took similar measures due to the current market situation is the Mexican cryptocurrency platform bitso, which announced on June 2, that it laid off 80 of its employees from technical and commercial areas. YesHowever, he did not give details of how many people are Mexican.
It should be noted that, at the time of the announcement, the consortium had a workforce of more than 700 workers. As with 2TM, Bitso pointed out that the measure is part of a series of actions to maintain its business in the current situation, which include, in addition to the reduction of workers, the redesign of the company’s activities.
Gemini lays off 10% of its workers
The above is only part of what has happened in the southern part of the American continent, however, winter is also approaching the firms further north in the continent and not precisely in Winterfell.
The exchange of digital assets Gemini, Owned by the twins Cameron and Tyler Winklevoss, who once made Mark Zuckerberg’s life a little impossible for a lawsuit in which the twins pointed out that he had allegedly stolen their idea by creating that social network, was also forced to reduce its staff in the face of the crypto winter.
Through a releasethe brothers indicated that, after much deliberation, they made the “difficult but necessary” decision to lay off 10 percent of its workforce.
The notice, which was reportedly published June 2 on the company’s official blog, indicated the consortium’s need to cut costs amid “turbulent market conditions that are likely to persist for some time.”
As the winter progresses, it will be time to see if the market conditions continue as adverse as has been indicated and if so, we will see what the outcome of this “Long Night” is, in this crypto version of Westeros.
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