Luno, the cryptocurrency exchange owned by Digital Currency Group (DCG), is planning to cut about 20% of its workforce worldwide as part of a broader restructuring, according to Bloomberg. The move was confirmed by Luno Chief Executive Officer James Lanigan. In comments made in response to media questions, Lanigan said the restructuring will reshape the company’s business mix, with a focus on expanding its business-to-business, or B2B, operations, while also reducing costs to reflect current market conditions. He did not disclose how many employees will be affected by the layoffs. The reported cuts point to a global adjustment in staffing rather than a change limited to one region, though no further geographic breakdown was provided in the report.
Luno, the cryptocurrency exchange owned by Digital Currency Group (DCG), will cut about 20% of its staff globally as part of a restructuring plan, according to Bloomberg.
Luno CEO James Lanigan confirmed the move. Responding to media questions, he said the restructuring will reshape the company’s business footprint, including an expansion of its business-to-business, or B2B, segment, while also reducing costs in line with current market conditions.
Lanigan declined to say how many employees will be affected by the layoffs.
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