Crypto exchange Luno cuts 20% of staff amid automation push and retail trading slumps
CoinDesk·
60-second summary
Luno is cutting 20% of its staff amid an automation push and declining retail trading volumes. This reduction follows a 35% staff cut in January 2023 due to tough market conditions. The company is shifting focus towards institutional clients and automation, aiming to improve efficiency and offset the impact of declining retail trading activity on its bottom line.
The DCG-owned company previously cut 35% of staff in January 2023 citing tough market conditions.