CryptoHK

GSR Layoffs

October 2022

GSR announced a layoff affecting 0 employees in October 2022. The company operates in the Crypto sector.

People Affected

Announced Date

Oct 11, 2022

About

Crypto market maker GSR laid off staff in the third quarter of 2022, cutting less than 10% of its global workforce as part of structural changes to improve efficiency. With approximately 300 employees, this reduction impacted a portion of the team amid a prolonged crypto market downturn. The company stated the move was to position the business for long-term growth, focusing on technology and trading capabilities while navigating the challenging industry winter that has affected many crypto firms.