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{"id":15996,"date":"2023-01-20T22:27:44","date_gmt":"2023-01-20T22:27:44","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/01\/20\/crypto-exchange-gemini-executes-second-round-of-layoffs-less-than-two-months-after-axing-10-of-staff\/"},"modified":"2023-01-20T22:27:46","modified_gmt":"2023-01-20T22:27:46","slug":"crypto-exchange-gemini-executes-second-round-of-layoffs-less-than-two-months-after-axing-10-of-staff","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/01\/20\/crypto-exchange-gemini-executes-second-round-of-layoffs-less-than-two-months-after-axing-10-of-staff\/","title":{"rendered":"Crypto exchange Gemini executes second round of layoffs less than two months after axing 10% of staff"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2022\/07\/18\/crypto-exchange-gemini-executes-second-round-of-layoffs-less-than-two-months-after-axing-10-of-staff\/<\/a><\/br>
\nCrypto exchange Gemini executes second round of layoffs less than two months after axing 10% of staff<\/br>
\n2023-01-20 22:27:44<\/br><\/p>\n

\n

Just seven weeks after crypto exchange Gemini\u00a0cut approximately 10%<\/a>\u00a0of its workforce due to \u201cturbulent market conditions,\u201d the startup has made a second round of layoffs, TechCrunch has learned, and there may be more on the way.<\/p>\n

The company had not widely communicated the extent of Monday\u2019s layoffs internally, leaving employees to speculate on the exact number of co-workers laid off in this most recent downsizing. A source close to the company noted that there was a reduction of 7%, or 68 members, in Gemini\u2019s companywide Slack channel Monday morning.<\/p>\n

Gemini has not yet responded to a request for comment.<\/p>\n

The same source, who spoke with TechCrunch under the condition of public anonymity, said that the company was laying off staff due to what it described as \u201cextreme cost cutting.\u201d<\/p>\n

Last week, an internal operating plan document was shared around the office and on an anonymous professional network Blind on July 14, but taken down shortly after, the source shared. The document highlighted a plan that would take the company to about 800 employees, which was around 15% fewer than the 950 employees at the time.<\/p>\n

\u201cIt\u2019s come to my attention that at least one team member thinks it\u2019s a good idea to post a snippet of our technology operating plan on a third party website (Blind),\u201d Cameron Winklevoss, co-founder of Gemini, wrote in a Slack message at the time. \u201cWow, super lame \u2026 if you are leaking company information, you are exhibiting a low level of consciousness and respect for your fellow team members who greatly benefit from the openness we are trying to create and foster here.\u201d<\/p>\n

TechCrunch viewed an image of the Slack message in question. Winklevoss also said that the message was a \u201cfriendly reminder that Karma is the blockchain of the universe \u2014 an immutable ledger that keeps track of positive and negative behavior.\u201d<\/p>\n

\u201cWe are going to the moon. We are going to need cosmic consciousness to get there. Earthly consciousness will not be enough,\u201d Winklevoss added. \u201cIf you are exhibiting the behavior of a first-time human, time to level-up or respectively bow out, if for no other reason but to avoid an expensive bill in the future.\u201d<\/p>\n

In recent months, a wave of crypto-focused companies have laid off employees<\/a>. Last week, NFT marketplace OpenSea reduced its staff by 20%<\/a>. A number of other firms including Crypto.com, Coinbase and Bybit<\/a> also cut staff amid crypto market volatility.<\/p>\n

This is a developing story and will be updated if new information becomes available. <\/em><\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2022\/07\/18\/crypto-exchange-gemini-executes-second-round-of-layoffs-less-than-two-months-after-axing-10-of-staff\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2022\/07\/18\/crypto-exchange-gemini-executes-second-round-of-layoffs-less-than-two-months-after-axing-10-of-staff\/ Crypto exchange Gemini executes second round of layoffs less than two months after axing 10% of staff 2023-01-20 22:27:44 Just seven weeks after crypto exchange Gemini\u00a0cut approximately 10%\u00a0of its workforce due to \u201cturbulent market conditions,\u201d the startup has made a second round of layoffs, TechCrunch has learned, and there may be more on the […]<\/p>\n","protected":false},"author":1,"featured_media":15997,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[],"class_list":["post-15996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology"],"yoast_head":"\nCrypto exchange Gemini executes second round of layoffs less than two months after axing 10% of staff - 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