This campany says the layoff decision has been taken due to low customer inquiries amid a drop in crypto trading volumes. However, sources said there have been retrenchments in the operations team as well. Let us tell you that a few days ago CoinDCX also announced layoffs.
CoinSwitch Layoff: Crypto startup CoinSwitch has announced layoffs. The company is about to lay off 44 employees from its customer support team. The company says that the decision to lay off has been taken due to low customer inquiries amid a decline in crypto trading volumes. However, sources said there have been retrenchments in the operations team as well. Let us tell you that a few days ago CoinDCX also announced layoffs. It has shown the way out to about 12 per cent of its employees.
‘Employees resigned of their own free will’
Responding to Moneycontrol’s questions, a CoinSwitch spokesperson said, “We constantly reevaluate our business to remain competitive. Prioritizing innovation, value and service for our customers. To this end, we have right-sized our customer support team to keep pace with the current volume of customer queries on our platform. This will affect 44 employees of our customer support team. He resigned of his own free will after a discussion with his managers earlier this month.”
