Sources: Binance has started layoffs

ChainCatcher news, according to Wu citing multiple sources, Binance has initiated layoffs, though the exact percentage is still uncertain. Binance has approximately 8,000 employees, and the compensation plan will be tailored to different local circumstances. Market rumors suggest that the layoff rate in June may be around 20%, but as of the time of publication, Binance has not responded to this.

However, Wu also learned that a few departments are still continuing to hire. This round of layoffs may be related to the overall poor market conditions and the previous significant expansion of Binance's workforce. (Source link)