Following the manufacturer of Bitcoin mining equipment Bitmain, the cryptocurrency company Huobi Group confirmed the information about a significant reduction in staff, reports 8btc with reference to the Chinese Internet portal Sohu.com.
One of the Huobi employees said that the company is conducting the so-called blockchain qualification exam, which includes 2,000 questions. The exam must pass all employees of the company, and in case of his repeated failure should be dismissed. The check, initiated in Huobi, is necessary to improve the professionalism and efficiency of employees.
Another source claims that last week the company had already laid off about 100 employees with a staff of 1,000 and plans to cut another half of the workers.
At the same time, Huobi representatives say that the company is constantly in search of new personnel and continues to focus on “its core business and emerging markets.”
Note that Huobi Global cryptocurrency exchange, part of the Huobi Group, ranks third in the daily trading volume, second only to OKEx and Binance.
“Cuts are a natural cycle in new, rapidly growing industries, and blockchain is no exception. This happened with the Internet in the 2000s, but then it was the basis for growth for the largest companies. I look forward to the emergence of a more efficient blockchain industry version 2.0, ” – Jihan Chu said in a comment by the South China Morning Post.