Binance Holdings Ltd. revealed on Wednesday that it had laid off some of its staff after saying it would not do so.
"We periodically review how we can best allocate our talent to the right teams with the right resources," a spokesperson of the company told The Block while adding that "sometimes, this inevitably leads to letting go of some employees who might not be performing well or who might not be the right cultural fit."
According to the media, the company had around 8,000 employees before the news. The move comes after Binance CEO Changpeng Zhao said it was considering growing the number of employees in January.
