Luno Cuts 20% of Global Workforce Amid Crypto Industry Restructuring

Crypto exchange Luno has announced it will cut around 20% of its global workforce as part of a restructuring process. In a statement, Chief Executive James Lanigan confirmed the move on July 28, saying that investments in automation and wider operational changes had altered the resources required to run the exchange.

Lanigan did not disclose the exact number of employees affected or identify the regions and departments included in the cuts. However, he stated that a 'leaner and adapted structure is both necessary and appropriate' for the company's future growth.

The move comes as part of a broader trend of restructuring in the crypto industry, with at least 12 companies reporting layoffs in July. According to CryptoJobsList, a tracker of crypto-related job cuts, the latest reductions follow a pattern of workforce changes linked to new business priorities and investments in automation.