More companies operating in the crypto market are making massive layoffs of employees. The turn has now taken the exchange Luno which is expected to show the exit door to 35% of its staff.
The layoffs were confirmed by the company’s CEO, Marcus Swanepoel.
“2022 has been an extremely difficult year for the economy in general and the cryptocurrency market in particular,” a statement said.
Read Also: Coinbase Fires 18% of its workforce (950 jobs)
“Luno was unfortunately not immune to this turmoil, which impacted our overall performance,” as noted.
It is estimated that the redundancies will affect around 330 jobs, as Luno employs 960 people.
Luno is part of the Digital Currency Group, is headquartered in London and has offices in Africa, Southeast Asia and Europe.
Read Also: New round of layoffs from Gemini cryptocurrency exchange
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