The parent company of the crypto investment platform Bake lays off 30% of its staff
ChainCatcher news, Singapore's crypto investment platform Bake's parent company Cake Group has laid off 30% of its staff. CEO and co-founder Julian Hosp stated on social media that to ensure better service for customers on bake.io, the group is in a sustainable "break-even" mode and will lay off about 50 employees, bringing the team size back to around 120 people. At the same time, there will be no cuts to any vertical departments.
Regarding rumors of leadership changes, Hosp mentioned that discussions have been ongoing, but there is no confirmed news yet.
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