{"id":160610,"date":"2022-07-18T21:02:59","date_gmt":"2022-07-18T21:02:59","guid":{"rendered":"https:\/\/precoinnews.com\/?p=160610"},"modified":"2022-07-18T21:02:59","modified_gmt":"2022-07-18T21:02:59","slug":"gemini-crypto-exchange-reportedly-lays-off-an-additional-7-of-its-staff","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/blockchain\/gemini-crypto-exchange-reportedly-lays-off-an-additional-7-of-its-staff\/","title":{"rendered":"Gemini Crypto Exchange Reportedly Lays Off An Additional 7% of Its Staff"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/07\/Winklevoss-Twins-Gemini-Crypto-Exchange-July-18th-770x488.jpg\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/03\/B6BD294B-AE0A-4844-940F-8CB9AD66C2E9-50x50.jpeg\"><\/p>\n<p>Summary:<\/p>\n<ul>\n<li>Gemini exchange has allegedly laid off 7% of its staff, with potentially more on the way.<\/li>\n<li>The crypto exchange is laying off staff due to &lsquo;extreme cost-cutting.&rsquo;<\/li>\n<li>This marks the second round of lay-offs after Gemini reduced its workforce by 10% in early June.<\/li>\n<\/ul>\n<p>The Gemini crypto exchange founded by the Winklevoss brothers has reportedly laid off 68 members of its staff, or approximately 7% of its workforce. This is the second round of lay-offs at Gemini, less than two months after it let go of 10% of its staff&nbsp;due to &lsquo;turbulent market conditions.&rsquo;<\/p>\n<p>According to a report by TechCrunch, Gemini had not &lsquo;widely communicated the extent &lsquo;of its second phase of lay-offs. As a result, an exact number could not be calculated, but a source from the company noted that there was a reduction of the earlier stated 68 employees in the company&rsquo;s Slack channel today.<\/p>\n<p>At the time of writing, representatives of Gemini are yet to respond to queries about the lay-offs. However, the same source told TechCrunch that the company was laying off its staff due to &lsquo;extreme cost-cutting.&rsquo;<\/p>\n<p>Furthermore, an internal document was shared last week around the Gemini office and on the anonymous professional network Blind on July 14th. The document, which was soon taken down, highlighted a plan to reduce Gemini&rsquo;s workforce from 950 employees at the time, to 800, an estimated 15.7% reduction.<\/p>\n<p>Gemini co-founder Cameron Winklevoss allegedly responded to the leaked document via Slack, stating it was lame. He said:<\/p>\n<blockquote>\n<p>Wow, super lame&hellip;if you are leaking company information, you are exhibiting a low level of consciousness and respect for your fellow team members who greatly benefit from the openness we are trying to create and foster here&hellip;friendly reminder that Karma is the blockchain of the universe &ndash; an immutable ledger that keeps track of positive and negative behavior.<\/p>\n<\/blockquote>\n<p>He went on to advise anyone exhibiting such behavior to simply bow out. He added:<\/p>\n<blockquote>\n<p>We are going to the moon. We are going to need cosmic consciousness to get there. Earthly consciousness will not be enough.<\/p>\n<p>If you are exhibiting the behavior of a first-time human, time to level-up or respectively bow out, if for no other reason but to avoid an expensive bill in the future.<\/p>\n<\/blockquote>\n<p>[Feature image courtesy of Shutterstock.com.]<\/p>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/gemini-crypto-exchange-reportedly-lays-off-an-additional-7-of-its-staff\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Gemini exchange has allegedly laid off<\/p>\n","protected":false},"author":3,"featured_media":160609,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gemini Crypto Exchange Reportedly Lays Off An Additional 7% of Its Staff - 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