African cross-border payments platform Chipper Cash conducted a second round of layoffs last Friday just ten weeks after it cut approximately 12.5% of its workforce (affecting its engineering team the most).

According to reports, Tencent and Bytedance, two Chinese tech giants, are planning to execute a significant number of job cuts in their metaverse divisions. Tencent recognized it is making some staff adjustments, amidst rumors of hundreds of layoffs in its extended reality division, while Bytedance is also planning to cut staff in Pico, its metaverse headset subsidiary.

Following a spree of layoffs across the crypto industry in 2022 – a microcosm of the tech industry at large, which also saw plenty of reductions last year – Magic Eden becomes the latest company to cut its headcount.

Meta, the company that owns Whatsapp, Instagram, and Facebook, is reportedly preparing to announce a new round of layoffs in the coming days. According to reports, the company is delaying the finalization of the budget for each one of its teams, causing operational delays and affecting the output of employees of the company. (Bitcoin.com)

In a surprising reversal, Microsoft has killed a team it formed four months ago to help customers use the metaverse in industrial settings, according to a person with direct knowledge of the matter. The group’s roughly 100 employees have all been laid off, the person said.

Crypto layoffs rose 8 to 13 times above average, in the months after major fallouts in 2022 and 2023.

According to an internal memo that was accessed by media outlets, the cryptocurrency exchange Gemini is planning to lay off 10% of its workforce. This comes after Gemini’s customers being affected by the bankruptcy of Genesis Capital due to the collapse of FTX.

 The Giving Block, a crypto donations marketplace, trimmed its workforce, two sources with direct knowledge of the matter told The Block.

The crypto industry continues to stagger under a massive wave of layoffs that have been occurring in recent times. Among the recent companies from the sector, Crypto.com has planned on axing 20% of its workforce.

US Bank, Goldman Sachs, has announced plans to lay off 3,200 workers, starting this week. Falling 2% short of its intended cut-back, close to 629 workers will heave a sigh of relief as they continue to keep their jobs alongside the rest 45,300 workers who make up the bank’s total workforce. The bank, disclosed the decision on Tuesday, adding that such measures are crucial in the face of unfavourable market conditions.