Cinneamhain Ventures partner Adam Cochran quoted the media Protos document and tweeted that Binance said in the announcement sent to internal employees that due to the current market environment and regulatory environment resulting in lower profits, we have to cut expenses.
Therefore, the following benefits will cease immediately on June 19: Covid care allowance, mobile phone allowance, fitness allowance, WFH (one-off) expense allowance, new marriage allowance, 8-year-old child allowance, other employee-related benefits (coupons, Book reimbursement, etc.), team building budget adjusted to $35/month.
According to Adam Cochran, the average salary of laid-off employees is lower than that of the United States, and some people are even as low as $50,000 per year. He said that while Binance said it was still hiring externally, it had told the internal team to stop hiring and expected more layoffs in the next 3 to 6 months. For the 1,000 employees who were laid off, Binance did not notify them or their managers, but were laid off immediately.
Some were told to sign NDAs for small payments. Others have nothing. Currently, Adam Cochran confirms that the minimum salary for laid-off employees is $10,500/year, paid in BNB, which is the salary for Latin American customer support employees.
Adam Cochran said it was the Protos team that helped put the documents and sources in place so they could be released in a manner that complies with Canadian and US news source BTC 0.20%-holders-miners-and-developers/">protection laws.
