WazirX layoffs in  the bear market

About WazirX

WazirX is India's leading crypto exchange launched in 2018. It was later acquired by Binance in 2019 & operating as a subsidy since then.

What's the news?

WazirX laid off 40% of its workforce in October 2022. The reason being the crypto bear market & global economy slowdown.

The Firing Zone

Around 50 to 70 employees of 150 workers were asked to leave. They will be provided with 45 days compensation salary.

Affected departments

Every department from customer support to HR  were equally affected by  this decision.

Declining Transactions

From hitting the peak at 478 million transactions in Oct 28, 2021 to just 1.5 million in Oct 1, 2022. Its dark days for the Indian exchange.

Details about WRX

WazirX is still the dominating player in the Indian crypto market.Swipe Up & read

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