Bitso

Bitso laid off 100 employees on 2022-11-29.

Latin American cryptocurrency exchange Bitso laid off 80 employees in May 2022, reducing its workforce from over 700. This cut, representing over 11% of its staff, was part of a strategic restructuring to align employee skills with its long-term business goals and to increase agility in the competitive crypto industry. The Mexico-based company, a unicorn with over four million users across the region, stated the layoffs were not due to fundraising challenges and occurred amidst a broader tech industry downturn, as seen with other regional exchanges like Buenbit.