The Layoffs Continue: Tokocrypto and GudangAda

By Editorial Team 20/12/2022
PHK Pekerja
Summary

Cryptocurrency trading platform Tokocrypto laid off 58 percent of its employees for the second time this year. In Sept 2022, the company laid off 45 people or 20 percent of its total employees.

Tokocrypto Interim CEO Yudhono Rawis said his company is streamlining operations and focusing on improving the performance of its cryptocurrency trading platform due to current volatile market conditions. "The company will adjust the number of employees with the aim of better managing operational costs," Yudhono said in an official statement on Monday. The employee reduction occurred after Tokocrypto was acquired by Binance, the world's largest crypto exchange.

Apart from Tokocrypto, GudangAda also reportedly laid off its employees. D-Insights sources said the B2B marketplace that targets stalls or grocery stores has laid off its employees without mentioning the exact number or percentage of those affected.

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