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.
Poor Bitmain employees who have been “optimized” out trying to protest as their last resort …
— Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) January 9, 2020
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.