Crypto exchange Mercado Bitcoin let go of 15% of its workforce on September 1st, as part of a series of measures taken by 2TM, its holding company, directed to streamline operations.
This marks the second time that the company has decided to let go of employees in less than three months. The first wave of layoffs wasin June when the company fired 90 employees with the objective of maintaining its operations in the future. At that time, the company stated that this move was part of a series of “adjustments” that went beyond just reducing their operating expenses.
This time, as well as during the first wave of layoffs, ex-employees will receive benefit packages to help them while searching for new jobs, and continued medical insurance.Other exchanges in Latam have also fired part of their personnel to reduce their expenses. This is the case with Bitso, a Mexico-based exchange, and also Buenbit, an Argentinian exchange, with both having to reduce their workforce to survive the current market cooldown.
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