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Huobi plans to lay off 50% of employees

Dec 26, 2018 Forex News

The decline in the cryptocurrency market has a negative effect on mining companies and trading platforms.

Chinese Internet resources reported that Huobi is considering the possibility of laying off 50% of staff.

One of the company's managers, who wished to remain anonymous, said that during the special testing on the blockchain technology, the best employees would be selected and they would be able to save their jobs. If employees fail the test twice (the test will include 2,000 questions), then the Huobi management will say goodbye to them.

According to the top managers of the company, a new measure for determining the professionalism of employees will positively affect the competitiveness of the giant in the face of weakening investor interest in digital assets.

According to another source, last week the company has already laid off about 100 people. Huobi employs 1,000 people in total, half of whom may lose their jobs.

Currently, Huobi occupies the third position in the world ranking in terms of trading digital assets after OKEx and Binance.

Earlier it was reported that the mining giant Bitmain officially confirmed the information that will reduce the number of employees by half. Among the main reasons that prompted him to carry out such optimization, was the fall in revenues due to the collapse of the cost of Bitcoin and altcoins.