Recently CoinSwitch Exchange Layoff 44 Employees From Support Team. Any cryptocurrency exchange or other company removes its employee, it can also be a personal matter.
Coin Switch Exchange is a well known platform in the Indian cryptocurrency exchange. The head quarter of this cryptocurrency exchange is located in Bengaluru and they have fired around 44 people from their support team.
Although it is a private matter of a company to appoint and expel people in a company, but when such incidents happen. We get an idea of the activities of that market.
It is normal is all other business like real state, manufacturing, etc. But in the world of cryptocurrency, an exchange firing its employee signals a big storm.
Let's see everything in detail why CoinSwitch exchange layoff 44 employees from their support team.
Why CoinSwitch Exchange Layoff 44 Employees From Support Team
Any cryptocurrency exchange or other company removes its employee, it can also be a personal matter.
But in the world of cryptocurrency, an exchange firing its employee signals a big storm.
Recently Banguluru based cryptocurrency exchange layoff their 44 employees. These employees were working in customer support team.
An spocks person from the CoinSwitch tell to the media that currently we don't get so much support quaries from the customers.
So, these employees talked with their managers and resign from the company.
Reasons of Kicking Off Employees
Any business runs on money, as long as money keeps coming in the market, the company keeps growing. As we all know, the cryptocurrency market is very volatile.
Right now the downfall is going on in the currency market and some legal activities are also stuck here like 30 percent tax imposed by the government.
Due to heavy tax and due to downfall people are not investing in currency. Who invested already are in heavy loss.
So, people Exchange is not generating good revenue due to less trading volume right now. This is the reason exchange and other companies layoff their employees.
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