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CryptoCurrency

Indian Crypto Tax Rules Cited as One of Three Reasons for CoinDCX’s Job Cut of 12%

  • The other two are difficult macro conditions and low crypto asset prices.
  • The number of digital asset exchanges slashing employment is on the rise.
by Damian Chmiel
CryptoCurrency

KuCoin Dismisses Reports of Massive 30% Staff Cuts, Labels It as 'Evaluation'

  • KuCoin's CEO calls the reports rumors, but does not deny the cuts.
  • A few days earlier, the WSJ reported that Binance had laid off more than 1,000 people.
by Damian Chmiel
Retail FX

Robinhood Trims Workforce Again as Retail Investor Activity Wanes

  • Third time's a charm? The retail trading company cuts jobs amid declining volumes.
  • The HOOD laid off 1,000 people in 2022, and about 150 will lose their jobs now.
by Damian Chmiel
Institutional FX

UBS' CEO Suggests Massive Job Cuts Loom for Credit Suisse's Investment Banking Division

  • The decision is explained by the need to reduce costs.
  • However, UBS does not provide exact figures.
by Damian Chmiel
Retail FX

Freetrade Stock Trading App Slashes Valuation by £425 Million

  • The startup reduced its valuation by 65% as FinTech companies face a severe sell-off.
  • The decision emerges in anticipation of a crowdfunding campaign planned this month.
by Damian Chmiel
Institutional FX

StanChart Aims to Cut $1 Billion in Costs, Starting with 100 Layoffs

  • The lender will let go of some of the employees in Asia and London.
  • StanChart joins the lengthening list of banks cutting jobs.
by Damian Chmiel
Institutional FX

Goldman Sachs Trims Its Ranks Again amid Market Slowdown

  • Goldman Sachs cut employment before, in September and in January.
  • Other Wall Street Banks also announced cuts this month.
by Damian Chmiel
CryptoCurrency

Nansen to Lay Off 30% of Staff, CEO Cites Challenging Market Conditions

  • The blockchain company presented two main reasons for the move.
  • The company had grown dramatically in the pandemic and then encountered a crypto winter.
by Damian Chmiel
Institutional FX

Top Chinese Bankers among Morgan Stanley's 3,000 Job Cuts

  • Morgan Stanley continues its job-cutting spree, with a particular focus on China.
  • The lender plans to trim employment by 3,000 positions by the end of the financial quarter.
by Damian Chmiel
Institutional FX

JPMorgan to Lay Off 1,000 Staff from the Bankrupt First Republic

  • JPM wants to lay off 1,000 of approximately 7,000 employees of bankrupt FRB.
  • Before the collapse, the institution had plans to cut its workforce by 25%.
by Damian Chmiel
Executives

Goldman Sachs Talent Storm as Executives Head to Competitors

  • Key personnel exits Goldman Sachs for competing firms.
  • Three months ago, the lending giant announced massive layoffs.
by Damian Chmiel
Institutional FX

Barclays Joins the Layoffs Bandwagon, Cuts 100 Jobs in Investment Banking

  • Investment giant prepares for another round of job cuts.
  • However, the cuts are more modest than those of competitors.
by Damian Chmiel
Institutional FX

UBS Slashes 36,000 Jobs Following Credit Suisse Takeover

  • UBS leads the layoffs in the finance and technology sector.
  • The massive job cuts started in October 2022.
by Damian Chmiel
Institutional FX

Credit Suisse Delays Annual Report and Cuts Investment Banking Jobs

  • CS shares fell after the SEC call forced the lender to delay its report.
  • Additionally, the bank is cutting other investment banking jobs.
by Damian Chmiel
Institutional FX

JPMorgan Joins the Investment Banking Jobs Cuts Wagon

  • Goldman and Morgan Stanley previously announced similar moves in the region.
  • JPM wants to reduce 30 jobs, mainly in junior-level positions.
by Damian Chmiel
CryptoCurrency

Crypto Platform Luno Sheds 35% of Workforce

  • Luno is a part of DCG, which is also reducing its current employment.
  • The company misjudged the level of industry slowdown during the crypto winter.
by Damian Chmiel
CryptoCurrency

Third Time's the Charm? Gemini Cuts its Workforce Once Again

  • Gemini cut jobs by 10% in June and then by 7% in July 2022.
  • The third round of layoffs comes when the crypto prices are strongly rebounding.
by Damian Chmiel
CryptoCurrency

ConsenSys Joins Crypto Layoffs with 11% Workforce Cut

  • The company will lay off 96 employees.
  • Many other companies in the crypto space have made similar decisions.
by Damian Chmiel
Institutional FX

Credit Suisse Starts Job Cuts, Goes after European Investment Bankers

  • Credit Suisse aims to cut 10% of its European investment banking staff, FT reveals.
  • In total, CS wants to reduce its workforce by 9,000.
by Damian Chmiel
CryptoCurrency

Binance Hires When Coinbase Cuts Employment amidst Crypto Winter

  • Binance wants to increase its staff by another 30% in 2023.
  • Meanwhile, other major crypto exchanges are reducing employment.
by Damian Chmiel
Institutional FX

Goldman Sachs Joins Layoff Wagon, Wants to Cut 3,200 Jobs

  • According to previous reports, Goldman Sachs wanted to cut 4,000 jobs.
  • The layoffs come as an answer to worsening economic conditions.
by Damian Chmiel
Institutional FX

Goldman Sachs May Start New Year with 4,000 Job Cuts

  • Goldman Sachs considers cutting its workforce by 8%, according to Bloomberg.
  • The layoffs are expected to take place in the first half of January.
by Damian Chmiel
FinTech

Checkout.com Cuts Internal Valuation by $29bn

  • The payments company feels the current market blues.
  • Stripe and Instacart have also reduced their valuations recently.
by Damian Chmiel
CryptoCurrency

Robinhood Cuts Its Workforce by 23% Due to ‘Deterioration of the Macro Environment'

  • Approximately 780 employees will be laid off.
  • The anti-money laundering team will remain intact.
by Matti Williamson
Brokers

Nomura to Lay Off 100 Employees in its European Business

  • The firm is also planning to downscale is G10 FX, emerging markets and flow credit business.
by Celeste Skinner
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