Crypto exchange, Gemini is going for the second round of layoffs to fire another 15% of its staffs to cut cost more. The company had earlier laid off 10% of its workers to survive the winter.
According to reports, 68 people — roughly 7% of staff — have been removed from the company’s Slack group. The company’s founders, the Winklevoss twins are however not making comments on this yet.
An internal re-planning document was leaked to an anonymous website on July 14, and it outlined a plan to reduce headcount by 15% to 800 from the current 950. Cameron Winklevoss noticed the leak and sent a reprimanding message to the company’s Slack group.
He wrote, ”It’s come to my attention that at least one team member thinks it’s a good idea to post a snippet of our technology operating plan on a third party website (Blind).
Wow, super lame … if you are leaking company information, you are exhibiting a low level of consciousness and respect for your fellow team members who greatly benefit from the openness we are trying to create and foster here.”
Cameron also added that Gemini was aiming for the moon and needed a cosmic consciousness to do that. He warned all employees without such an approach to “level-up or respectively bow out.”
Gemini was the first crypto exchange to announce laying off staffs in June. This was followed by Coinbase, Crypto.com, Robinhood, BlockFi & Bitmex.
The twin Gemini founders, Cameron & Tyler have never had to reduce staff since 2014 when they launched the exchange until now. Even though Gemini is said to go for a second firing round now, the Winklevoss twins appeared very bullish on their investments.