The exchange has overhauled its institutional business as part of a broader restructuring, with approximately one-third of its sales team exiting, according to one source. The OKX exchange has initiated an institutional restructuring of OKX on a global scale. This measure resulted in the departure of one-third of its institutional sales team this Friday. The exchange of OKX cryptocurrencies adjusts its institutional strategy globally, resulting in the departure of about one third of its institutional sales team, in a process that the company does not qualify as mass layoffs.
The restructuring involved layoffs and voluntary departures within the institutional business of OKX. The company will migrate towards a more traditional institutional coverage model. The objective is deepening long-term commercial relationships with global clients worldwide.
OKX made new layoffs in a full reorganization process for its international plans. OKX’s restructuring may enhance operational efficiency and client relations, potentially bolstering its position in the competitive crypto market.
Cryptocurrency exchange OKX has implemented significant workforce reductions in its institutional division, marking a strategic response to underperforming institutional business segments that reflects broader industry recalibration. OKX has overhauled its institutional business as part of a global restructuring, resulting in the departure of roughly one-third of its institutional sales team. The company does not describe the move as mass layoffs, signaling a broader reorganization. The firm will migrate toward a more traditional institutional coverage model with the objective of deepening long-term relationships with global clients.
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