Luno Cuts 20% of Workforce as Automation Grows and Retail Trading Weakens

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Crypto exchange Luno has laid off 20% of its employees, citing a push toward automation and a slowdown in retail trading activity. The company is owned by Digital Currency Group (DCG). This marks the second significant round of layoffs for Luno, which previously reduced its workforce by 35% in January 2023 due to difficult market conditions. The latest cuts reflect broader challenges facing retail-focused crypto platforms as trading volumes remain subdued.

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