Amber Group - Yahoo Finance

Amber Group to Reduce Workforce With About 5-10%

Share article now

Amber Group to Reduce Workforce With About 5-10%:

Blockchain company – Amber Group – will undergo a reduction of its workforce in the range of 5%-10% this year, reports revealed.

Amber Group - Yahoo Finance
Amber Group – Yahoo Finance

The Singapore-headquartered firm earlier increased its staff base from around 200 to 300 before the 2021 bull market.

Now the firm has a staff base of about 900.

According to Tiantian Kullander – Amber’s Co-founder ;

“We are currently reducing in roles that are lower in the priority given market conditions, and increasing headcount in roles that are higher priority,” the company’s co-founder, adding that the company reviews and adjusts global headcount every quarter.

The blockchain company is also hiring for at least 18 positions across different locations in the United States, Singapore, Hong Kong, and the United Kingdom, Bloomberg revealed.

The bearish nature of the crypto market saw several leading crypto platforms  laying off  their staffs.

Big firms like Huobi announced 30% staff lay offs, Coinbase 18%, BlockFi 20%, Gemini 10%, Blockchain.com 25%, OpenSea 20%, Banxa 25%, and Vauld 30%.

Leave a Comment

Your email address will not be published.