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Ben Zhou, CEO of crypto exchange Bybit, has just announced the company intends to carry out a staff reduction as part of a business reorganization "in the context of the prolonged bear market."
According to him, the company intends to refocus efforts in the context of this prolonged downturn. He has stressed that the reorganization will affect all divisions of the structure.
Zhou has said:
"The planned downsizing will be across the board. We are all saddened by the fact this reorganisation will impact many of our dear Bybuddies and some of our oldest friends. I am very grateful for all of their contributions to Bybit over the years and we will not forget them."
Zhou has also said that the platform will try to make the process "as simple as possible" for the affected employees.
Bybit has thus joined the long list of companies in the industry that have decided to lay off staff amid falling digital asset prices.
