2TM Group, a Latam unicorn and parent company of Mercado Bitcoin, a Latam-based cryptocurrency exchange, has announced it will execute a series of layoffs due to the current market cooldown. The company declared that this action was motivated by the recent global financial scenario changes, making it reconsider its position, and reducing its operative expenses.
About the situation the company is facing, 2TM Group stated:
The scenario required adjustments that go beyond the reduction of operating expenses, making it also necessary to dismiss some of our employees. The process we carried out was guided by transparency and respect, in order to honor the legacy of each employee who helped us get here.
The company also stated that the laid-off workers will be able to enjoy a package of benefits that include an extension of their health plan and help to relocate to other companies.
2TM Group is just the last of a series of companies that have either made changes to their hiring programs or started laying off staff to survive the current market cooldown. Coinbase, a U.S. exchange, not only announced it was freezing its hiring programs, but also that it was rescinding some of its accepted job offers for employees that have still not started to work in the company.
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