Bitmain said also that it is still hiring, despite the layoffs, adding: “As we move into the new year, we will continue to double down on hiring the best talent from a diverse range of backgrounds.”
"We're axing entire departments and laying off 50% of our entire workforce because we're desperate for cash, but you should come work for us!" Sounds like prospective hirees should look to Bitmain's competitors for work instead.
It's fascinating to watch this play out. Most people -- including myself -- had written off the possibility of Bitmain's demise because of their perceived profit margins and market share. Part of me is still skeptical, but it looks like the 50% number is real:
“It’s affirmative. The layoff will start next week and involves more than 50 percent of the entire Bitmain’s headcount,” replied one verified Bitmain staff on Maimai to the thread.