CoinDesk·3 min read·medium
Crypto exchange Luno cuts 20% of staff amid automation push and retail trading slumps
F
Francisco Rodrigues
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Crypto exchange Luno is cutting 20% of its workforce as it shifts focus toward automation and business-to-business services amid a slump in retail trading. This marks the company's second major layoff in recent years as it consolidates its operations in Africa and Southeast Asia.
The firm’s CEO James Lanigan confirmed the cuts to Bloomberg but declined to disclose the number of employees affected. Lanigan said investments in automation and other operational improvements over the past year had changed the resources needed to run the business.
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