November 29, 2022

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Binance To Continue Hiring Spree As BigTech Looks At Mass Layoffs

Binance To Continue Hiring Spree As BigTech Looks At Mass Layoffs

In a tweet, Binance CEO Changpeng “CZ” Zhao said that the company intends to hit the 8,000-mark in employee count

Crypto exchange Binance will continue on its announced hiring initiative will add 500 more people to its workforce by the end of 2022.

In a tweet, Binance CEO Changpeng “CZ” Zhao said that the company intends to hit the 8,000-mark in employee count by the end of the year. He added that the headcount now at Binance is over 7,400 currently.

The revelation is especially surprising as companies of all sizes are looking at significant staff cuts in anticipation of a recession.

So far, a number of companies including Meta, Twitter and Snap have announced mass layoffs. According to media reports, even Amazon and Google are now looking to cut as many as 10,000 employees from its payroll.

Meanwhile, Cisco has also announced USD 600 million in severance as it looks towards layoffs which could impact as much as 5 per cent of its employees. The severance takes into account the company’s restructuring plan slated to begin in the second quarter of fiscal year 2023.

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Binance has added roughly 1,500 employees to its workforce since June this year, which is again nothing short of a surprise as around the same time many companies began planning for restructuring and placing hiring freeze.


Doonited Affiliated: Syndicate News Hunt

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