26/12/18 09:24 UTC-4

Bitmain and Huobi cryptocurrency companies intend to dismiss part of employees

Bitmain and Huobi are going to fire staff
Bitmain and Huobi are going to fire staff

Bitmain cryptocurrency mining-giant and Huobi, a large crypto-exchanger, confirmed the plans for dismissing employees in the conditions of the price collapse of cryptocurrencies in 2018 – as reported by the South China Morning Post (SCMP) Hong Kong English-language newspaper on December 26.

As you know, Bitmain Technology, a Beijing-based company that dominated this year in the production of miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
equipment, said that this year it is undergoing "some adjustment to the staff of its employees."


Bitmain and Huobi layoffs

From the Bitmain statement, they will not completely dissolve the company's employees. At the same time, management clearly intends to change some employees to more efficient specialists. Also, at this stage, it is known that Bitmain intend to change the strategic plans for the development of production and to establish overseas relations with suppliers and distributors.

"The part (building a sustainable business) is to really focus on the things that are key to this mission (...), and not on things that are ancillary (...) As we get closer to in the new year, we will continue to hire twice the best talents from various areas" – Bitmain.

According to SCMP, the exact number of layoffs has not yet been disclosed, but a company spokesman today (December 26) denied that Bitmain could fire more than half of its employees. Although the Chinese social networks were anonymously stated completely different data.

As reported earlier this week, several Chinese experts claimed that Bitmain released its entire development team to work with Bitcoin Cash (BCH).

It is known that the Huobi Group has also confirmed its plans to "optimize" the staff list by dismissing unsuccessful employees. The Huobi Group company, operates from Beijing and oversees the Huobi cryptocurrency exchange, headquartered in Singapore. Nevertheless, representatives of the Huobi Group stressed that they would continue to recruit "for their core business and emerging markets."

Even though the exact numbers for planned layoffs are unclear, SCMP notes that as of June 2018, as a result of filing applications for Bitmain IPO, it was revealed that the company has 2,594 full-time employees, including about 840 engineers. According to SCMP, over a thousand people work in Huobi.

Bitmain and Huobi cryptocurrency companies are going to lay off staff, according to data from social networks, the companies promise to pay social security to laid-off employees in January 2019.

Editor: Pereyidenko Ihor

See also: "A survey in the United States: only 3% of the population is ready to start using blockchain-based Internet banking"

#Bitmain #Huobi #Hong Kong #Beijing #layoffs



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