Huobi Will Reduce its Workforce

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According to blockchain-focused journalist Colin Wu, crypto exchange Huobi will cancel annual bonuses and carry out state optimization.

He has reported citing his own sources that the company will reduce the staff of 1,200 people to 600-800. In addition, Huobi will cut the salary of senior employees.

The journalist reported last summer that the exchange was looking to cut staff by 30% amid a sharp drop in revenue after a Chinese user ban in September 2021.

Huobi announced in autumn a brand change. As part of it, the exchange abandoned the official name Huobi Global, and also denied rumors of a possible merger with Poloniex.