Huobi Global denies ‘large-scale layoffs’ and key exec resignations

Huobi International says it has no plans to conduct “large-scale layoffs” and has refuted reviews that two of its high executives have resigned amid a takeover of the Seychelles-based crypto trade.

Experiences that the corporate’s CEO Leon Li and chief monetary officer Chris Lee have resigned appeared to have originated from an Oct. 29 Twitter publish from Chinese language crypto blogger Colin Wu, citing “folks acquainted” with Huobi.

The Twitter publish additionally advised there might be mass layoffs deliberate for its 1,600 workers as a consequence of “too many individuals” working on the firm.

Nonetheless, a spokesperson from Huobi International instructed Cointelegraph that rumors there might be mass layoffs are “unfaithful” and that its senior administration continues to carry out their duties “as per regular,” stating:

“Huobi International’s senior administration workforce is performing their duties as per regular, and rumors of large-scale layoffs are unfaithful. At current, Huobi International enjoys a wholesome money stream, and the brand new shareholders have accomplished the capital injection.”

“Huobi has demonstrated constructive improvement potential in key regional markets, and can proceed to spend money on enterprise innovation, exploring worldwide markets and recruiting native workers,” they added.

Nonetheless, the spokesperson admitted that because of the crypto market downturn, some cost-cutting might nonetheless be on the playing cards although it didn’t make clear what this might entail, stating:

“Huobi International is in a sound monetary place at current, however because of the present market downturn, Huobi can even make changes to scale back prices and improve effectivity.”

Associated: Why is the price of Huobi Token up 12% today as rest of the market slumps?