WazirX Layoffs
October 2022
WazirX announced a layoff affecting 60 employees (40% of its workforce) in October 2022. The company operates in the Crypto sector.
60
40%
Oct 2, 2022
About
Indian cryptocurrency exchange WazirX laid off 40% of its workforce, affecting 50 to 70 employees out of a total of 150, as reported in early October 2022. The layoffs, which impacted multiple departments including customer support, HR, and the entire public policy team, were attributed to a severe bear market and global economic slowdown. The company cited a dramatic decline in trading volumes, exacerbated by India's challenging regulatory and tax environment for crypto, which made operations unsustainable.
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