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Huobi confirms 20% layoffs, denies insolvency rumors

Published 01/06/2023, 05:03 AM
Updated 01/06/2023, 06:40 AM

Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm.

“The planned layoff ratio is about 20%, but it is not implemented now,” a spokesperson for Huobi said in a statement to Cointelegraph on Jan. 6. The representative emphasized that the allegations on Huobi firing as many as 40% employees is a rumor.

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