Binance has dismissed 1,000 employees in the last few weeks, Is it Normal!!!!!!!!
Binance, the world's largest cryptocurrency exchange, is now dealing with regulatory concerns and a variety of other issues that could lead to this suspension. In this post, I'll explain why this happened and what actually happened as a result.
About the news - According to the WSJsource cryptocurrency exchange Binance has dismissed over 1,000 employees internationally in recent weeks due to an ongoing legal lawsuit by the US Securities and Exchange Commission (SEC) and other legal obstacles.
Over a third of Binance employees numbered around 8,000 could be affected by job losses due to the dismissal. Current Binance employees are conscious with the company’s plans that the dismissal will eventually eliminate 1,500 to 3,000 of Binance employee internationally and the dismissal will be carried out by the end of the year.
Outcome of the dismissal - The dismissals are related to the current investigation of Binance by the US Department of Justice which is expected to result in either an agreement or a billion-dollar payment.
Several key officials at Binance have left the firm in recent weeks and their departures blamed on Binance founder and CEO C Z's handling of the DOJ inquiry.
What can be the reason behind - As they preparing for the upcoming big bull session, it has grown obvious that they must prioritize skill density throughout the firm in order to remain dynamic.
The CEO of Binance C Z said, they had to apply forced dismissals as they are trying to improve skill density. This happens in every business. The numbers given by the media are all manipulated to create panic. On the positive note, the media can't stop talking about them. They are still looking for new employees.
Conclusion - C Z is a man of words, as we all know. He will not take any action that may harm the company's reputation. Let us all hope for the best.
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
Twitter link:
https://twitter.com/Rahul989132/status/1680809282038800384?t=VuCQlgoED0RXTXb4iBHLRg&s=19
aside from a few lawsuits from the SEC. Binance has also been thwarted several times in European countries.
I personally think it's because there are regulations in several countries, which require binance to lay off some of its employees.
Dear @rahul989 ,
We appreciate your active participation and contributions to our community. To ensure a positive environment for all members, we have implemented a set of guidelines to maintain respectful and constructive discussions while upholding community guidelines.
This is a nice news topic but your post quality is low, please increase the quality of your post
Now Engage, Connect, and Inspire Each Other to Reach New heights.
Thank You.
Thank you so much.