After days of rumors of layoffs at Huobi, the exchange confirmed that it will cut about 20% of its staff.
“The planned layoff rate is about 20%, but it’s not being met right now. With the current state of the bear market, a very small team will be maintained in the future. Personnel optimization is aimed at implementing the brand strategy, streamlining the structure, improving efficiency and getting back to the top three,” said a company spokesperson.