Key facts
- Luno is reducing its global workforce by approximately 20%.
- The reduction impacts roughly one-fifth of the company's staff.
- CEO James Lanigan cited investments in automation as a primary driver.
- Investments in operational improvements also contributed to the restructuring.
- The company aims to achieve a leaner operational model.
Crypto exchange Luno is implementing a significant reduction in its global workforce, with approximately 20% of its staff being laid off. This decision comes as the company has made substantial investments in automation and other operational improvements. CEO James Lanigan highlighted these investments as the primary drivers behind the restructuring. The goal of these changes is to establish a leaner and more efficient operational model for Luno. The company aims to leverage technological advancements to streamline its processes and reduce reliance on manual labor, thereby optimizing its operational structure.