Crypto Exchange Bitkub’s Parent Cuts 5.5% Of Staff
Bitkub Capital Group, the parent firm of Thailand’s largest digital asset exchange Bitkub Online, announced in a statement on Wednesday that it has sacked around 5.5% of its employees and reduced employee benefits to cut expenses amid economic challenges.
There was also a layoff at Bitkub Online, with around 2% of employees laid off, according to the statement.
The Bangkok-based business rejected accusations in local media that it sacked half of its employees in late June. “The number of employees adjusted is small in comparison to the total number of employees in the group,” Bitkub Capital Group stated.
Bitkub also clarified that only one employee perk was taken away, without divulging details. The current economic downturn prompted the company to implement cost management guidelines, it said.
(With inputs from Shikha Singh)
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