Bitmain employees protest against the mass layoff.

The world's largest manufacturer of bitcoin mining machines, Bitmain, is facing heat on its decision to lay off 50% of its staff before bitcoin halving.

China-based Bitmain earlier revealed that it is planning to layoff half of its employees this month. The decision for a mass layoff was criticized by the Co-founder Micree Zhan, who is no longer an active part of the executive team. Now the employees of the organization are protesting against the mass layoff.

 

Bitmain is laying off employees to optimize the organization.

The managing partner of Primitive Ventures Dovey Wan tweeted a picture of Bitmain employees who are holding a banner saying ” protesting against Bitmain’s illegal layoffs.” Earlier she had tweeted about the mass layoff revealing that this is an attempt by Bitmain to optimize the organization. The employees who fear the loss of jobs are protesting against the world’s largest manufacturer of crypto mining machines.

 

Micree Zhan calls the decision to layoff half the staff “suicidal.”

The co-founder of bitcoin mining maker, Micree Zhan, who was abruptly removed from Bitmain by Wu Jihan, in an open letter to the company called this decision “suicidal” and that there is no need of a mass layoff. Micree Zhan, who is fighting to come back into the company, said that the company should focus on integrating artificial intelligence and machine learning rather than firing employees.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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