Media: Bitcoin Exchange Huobi has closed a unit in Shenzhen

According to 8btc , citing a Chinese source Odaily, the cryptocurrency exchange Huobi closed a unit in Shenzhen, firing all employees.

The Shenzhen division of Huobi was established in October 2016 to research innovative business areas. In particular, Huobi’s “daughter” worked on a tokenized educational project. The latter, however, failed.

Odaily reports that initially more than 20 employees worked in the Shenzhen division. Over time, the number of workers dropped to 14, then all of them were fired. The reasons for this decision, the source does not name.

One of the Huobi employees told the Chinese edition that employees who did not complete a six-month trial period would not receive a salary. Huobi's director of public affairs, Shi Wei, confirmed the information about staff cuts in the company. She noted that only the least efficient employees would be fired. At the same time, she did not name the exact number of workers planned for the dismissal.

On the other hand, another Chinese source, Caijing, refutes rumors about the dismissal of all employees of the unit in Shenzhen. The publication notes that the company under liquidation duplicated the functions of other divisions of Huobi. Thus, employees were simply invited to join the main structures of the company. In this case, all employees will be paid in accordance with the law.

According to one of the former employees of Huobi, the wave of reductions in the company began in November 2018. By the end of December of the same year, the company's staff decreased by about a third.

Note that staff reductions in cryptocurrency companies are becoming a global trend. Similar “optimizations” occur in Bitmain , Steemit , Ethereum startups ConsenSys and Status .

Also earlier BlockchainJournal reported that the exchange of cryptocurrency derivatives Huobi DM reported about $ 12 billion of trading volumes for the first month of operation.

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