Crypto Exchange Luno Cuts 20% of Staff Amid Automation Push and Retail Trading Slumps

Crypto exchange Luno cuts 20% of staff amid automation push and retail trading slumps

The DCG-owned company previously cut 35% of staff in January 2023 citing tough market conditions.

Luno says only 5% of jobs in Nigeria, Kenya, and Uganda affected by global layoffs

This week, cryptocurrency company Luno announced it was trimming 20% of its global headcount and restructuring its business. According to the startup, the decision is in part due to a drop in retail cryptocurrency markets and investments in automation and operational improvements over the last year. “We have incredible people across this organisation, and saying goodbye to colleagues who have contributed so much is hard. But it is a decision we’…

Luno Layoffs to Affect 20% of Staff Worldwide Amid Restructuring

Crypto exchange Luno is laying off about 20% of its global workforce as it cuts costs. Chief Executive Officer James Lanigan confirmed the move to Bloomberg but did not disclose how many employees would be affected. He said investments in automation and operational improvements had changed the resources required to run the business. Luno plans to maintain investment in its consumer platform, infrastructure and regulatory compliance. Local-curren…

REALITY CHECK | South African Crypto Exchange, Luno, to Cut 20% Workforce in Strategic Institutional Pivot

South African leading cryptocurrency exchange, Luno, is cutting about 20% of its global workforce as it restructures the business, Chief Executive Officer, James Lanigan, has said. The reorganization will see the company scale its business-to-business division while reducing costs in line with current market conditions, Lanigan said, declining to specify how many employees will be affected. The layoffs come despite the exchange being the first t…

Luno Lays Off 20% of Staff Amid July Job Cuts Across 12 Firms

Crypto exchange Luno is reportedly cutting about 20% of its workforce as it restructures operations and reallocates resources toward institutional clients, financial infrastructure, and business-to-business services. The move, first reported by Bloomberg, reflects a broader cost-and-efficiency push in the crypto industry amid pressured growth expectations and tighter budgets. According to the report, Luno CEO James Lanigan said the company’s pre…

Luno cuts 20% of staff as crypto layoffs spread across 12 firms in July

Luno and Gnosis joined a widening round of crypto restructurings in July, when at least 12 companies reported job cuts.