The largest South Korean Bithumb cryptocurrency exchange, according to CoinDesk Korea, plans to cut more than 50% of the company’s staff: of the 310 employees are working 150 people.

In the publication refer to one of the leaders Bithumb, according to which the reduction will affect those who chose to change jobs, and voluntary redundancies included in the programme of support for former employees and includes job placement assistance. The company does not waive recruitment in new areas, however, due to the decline in trading volumes compared to last year is forced to use such methods of optimization.

We will remind, earlier ex-Manager Huobi Group confirmed that in this company since November last year began a massive reduction of employees at the end of December, it was dismissed about one-third of the former staff of the firm. At the same time, the co-founder of Ethereum and head ConsenSys Joseph Lubin (Lubin Joseph) reduced 60% of the company’s employees to reduce costs. And mining giant Bitmain has completed a round of massive layoffs that have affected the division of mining, development chips, artificial intelligence, and others.