{"id":70948,"date":"2022-12-04T14:00:00","date_gmt":"2022-12-04T12:00:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70948"},"modified":"2025-09-08T05:12:05","modified_gmt":"2025-09-08T02:12:05","slug":"bybit-to-cut-staff-amid-prolonged-bear-market","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bybit-to-cut-staff-amid-prolonged-bear-market\/","title":{"rendered":"Bybit to cut staff amid prolonged bear market"},"content":{"rendered":"<p>The cryptocurrency exchange Bybit will trim its staff as part of a business reorganisation amid a prolonged bear market. This was stated by co-founder and chief executive Ben Zhou.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">2) The planned downsizing will be across the board.<br \/>We are all saddened by the fact this reorganisation will impact many of our dear Bybuddies and some of our oldest friends. I am very grateful for all of their contributions to Bybit over the years and we will not forget them.<\/p>\n<p>\u2014 Ben Zhou (@benbybit) <a href=\"https:\/\/twitter.com\/benbybit\/status\/1599275420415070209?ref_src=twsrc%5Etfw\">December 4, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Zhou, the company intends to refocus its efforts amid the prolonged crisis. He stressed that the reorganisation will affect all units of the group.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The planned downsizing is comprehensive. [\u2026] It is important to ensure that Bybit has the right structure and resources to weather the downturn, and is agile enough to seize numerous opportunities in the future,&#8221; wrote the head of the company.<\/p>\n<\/blockquote>\n<p>Zhou also said the exchange would strive to make the process as smooth as possible for affected staff.<\/p>\n<p>Bybit joined a group of crypto-industry participants that have decided to cut staff amid the decline in digital asset prices.<\/p>\n<p>On November 30, the Kraken platform <a href=\"https:\/\/u1f987.com\/en\/news\/kraken-cuts-around-30-of-staff\">reported<\/a> layoffs of around 1,100 employees, or about 30% of its staff.<\/p>\n<p>Earlier in the same month Coinbase <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-cuts-more-than-60-jobs\">announced<\/a> the layoffs of 60 workers.<\/p>\n<p>Read ForkLog\u2019s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Bybit will trim its staff as part of a business reorganisation amid a prolonged bear market, according to co-founder and chief executive Ben Zhou.<\/p>\n","protected":false},"author":1,"featured_media":70949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1151,1166],"class_list":["post-70948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bybit","tag-centralized-exchanges-cex"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=70948"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70948\/revisions"}],"predecessor-version":[{"id":70950,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70948\/revisions\/70950"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70949"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}