According to the media "Wu Shuo" posted on Twitter on the evening of the 31st, Binance has launched a layoff plan. Although it has not clearly announced the proportion of layoffs, it is rumored that it may fall to 20%, and this decision may not be in line with the overall market environment. , related to the rapid expansion of Binance’s employee base. If 20% is used as a trial calculation, it is estimated that nearly 1,600 people may be laid off from the total number of Binance employees of about 8,000.
CZ said Binance has a dedicated internal plan to deal with employee layoffs
"Wu Shuo" later published a reply from a Binance spokesperson saying that Binance regularly reviews how to allocate the most suitable candidates to the right teams. Sometimes it is inevitable that some people who perform poorly or do not fit in with the company culture are fired, but This is not about layoffs, but about reassessing whether we have the right talent and expertise in key positions. Such a statement seems to indirectly reflect that Binance does have plans to lay off employees in the near future. Although it did not respond to the 20% authenticity, it said that it will continue to recruit new employees to fill hundreds of vacant positions.
Patrick Hillmann, Chief Strategy Officer of Binance, also issued a response: "Binance is not trying to reduce costs by downsizing 20% of its employees. Over the past five years, Binance has experienced truly exponential growth and has also expanded its employee base. This is A historic operational challenge, and we need to overcome it." But this statement did not directly respond to the rumors of 20% layoffs.
However, the final result did not come until Binance CEO Changpeng Zhao (CZ) issued a formal explanation on the rumors mentioned by "Wu Shuo" in the early morning hours. CZ bluntly said that "rumors about layoffs" are FUD.
CZ mentioned that Binance has an internal “Bottom Out” plan to deal with employees who are not suitable for the company culture and working environment, and these people will also include outstanding people with good performance. For example, CZ said that a simple working model such as Work From Home (WFH) remote working may not be suitable for all employees. "Bottom Out is an ongoing plan, even on a 'weekly' basis, and no fixed percentage of employees will be included in the layoff list," he further explained that Binance has been profitable since October 2017. , and has been recruiting talents to ensure that the talent strength of the team is improved.
Even though CZ came forward to respond, the community is still paying close attention to Binance's "actions". Whether it is "layoffs" or "reorganization of manpower", investors are inevitably worried about the significant reduction in manpower of first-line trading platforms. When a netizen asked, "What percentage of employees will be laid off in June?" CZ replied, "I don't know, there has never been a plan in advance."
This article is rumored to be about to lay off 20% of employees at Binance. Changpeng Zhao responded that there has been an internal plan to "regularly optimize talents." First appeared on Blockchain.