Gemini Layoffs
July 2022
Gemini announced a layoff affecting 68 employees (7% of its workforce) in July 2022. The company operates in the Crypto sector.
68
7%
Jul 18, 2022
About
Crypto exchange Gemini conducted a second round of layoffs in July 2022, cutting approximately 68 employees, which represented about 7% of its workforce at the time. This followed a previous reduction of 10% just seven weeks earlier, driven by "turbulent market conditions" and "extreme cost cutting." The company, which had around 950 employees before these cuts, was reportedly planning to reduce its headcount to about 800. The layoffs were part of broader efforts to navigate a challenging crypto market downturn, with internal documents and Slack messages indicating ongoing restructuring and cost management within the startup.
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