Crypto exchange Luno cuts roughly 20% of its workforce, according to reports from CoinDesk and Decrypt. Both outlets say the DCG-owned company attributes the job reductions to an automation push and to changes in how it operates amid weaker retail trading demand. Decrypt adds that CEO James Lanigan frames the move as part of a broader business shift away from retail trading and toward institutional infrastructure. CoinDesk reports that Luno previously reduced staffing by about 35% in January 2023, also citing challenging market conditions at the time. The new cuts follow that earlier restructuring, indicating continued cost and operational adjustments. While the outlets emphasize automation and a pivot in customer focus, they describe the overall action similarly: a global staffing reduction of about one-fifth. The reports do not provide further details on specific roles affected, timelines for layoffs, or the company’s financial figures. The information is presented as part of Luno’s ongoing response to market conditions and internal efforts to reshape its business model.
Luno cuts about 20% of staff as it shifts toward automation and institutional services
Crypto exchange Luno cuts roughly 20% of its workforce, according to reports from CoinDesk and Decrypt. Both outlets say the DCG-owned company attributes the job reductions to an automation push and t...
- Luno, a crypto exchange owned by DCG, cuts about 20% of its global staff.
- The company says the cuts are linked to an automation push.
- Luno also describes a shift from retail trading toward institutional infrastructure.
- CEO James Lanigan cites automation as changing the business, according to reporting.
- CoinDesk reports Luno previously cut about 35% of staff in January 2023 due to tough market conditions.
CEO James Lanigan cited automation reshaping the business, as the exchange shifts from retail trading toward institutional infrastructure.
3 hours agoThe DCG-owned company previously cut 35% of staff in January 2023 citing tough market conditions.
4 hours ago
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