CoinDCX Makes Tough Staffing Decision Amid Market Challenges


In a heartfelt message, the creators of CoinDCX, Sumit Gupta and Neeraj Khandelwal, talked about a hard choice they’ve had to make. They’re reducing their team by about 12%, which means some really skilled people will have to leave the company. ( They’re really sorry about that. But they want to explain why they’re doing this and tell everyone that they’re still committed to the company’s mission.

Why This is Happening?

CoinDCX, like other new companies, is going through a tough time because the economy is not doing well. This is even harder in the world of cryptocurrency because the prices have been low for a while and taxes are affecting the company’s business in India. Because of these problems, the company is making less money. To deal with this, they tried a few things, like spending less money and using more technology to work better. They also changed some of the things they were working on to make the company stronger in the future. But they still need to make changes to the team to make sure the company can keep growing.

Making Changes for a Better Future

The founders say they’re really thankful for everyone who works at CoinDCX. However, they explain that they have to let go of some people because their jobs don’t match what the company needs right now. They say they tried to think of other solutions, but they had to make this choice because of how things are in the business world right now. They feel bad about this because they know it’s not easy for the people who have to leave.

Help for Those Leaving

To help the people who are leaving, CoinDCX is giving them some extra money and support. This includes money equal to the time they would have stayed, an extra month’s pay, and money they were supposed to get based on how well the company did. They’re also giving them the option to use their remaining vacation days, keeping their health insurance and wellness benefits for a bit longer, and offering counseling help.

Moving Forward Together

For the people who are staying at CoinDCX, the founders want to say that they still believe in the company’s mission. They want to help a lot of people in India use cryptocurrencies and Web3 technology by 2025. They promise that there won’t be more team reductions, and they’ve talked a lot with the leaders in the company to make sure of this. Even though there might be questions, they’re sure that they’re doing what’s best for the company.

Keeping Promises to Customers and Partners

CoinDCX wants to make sure that their customers and partners know they’re still focused on giving great service. Even though things are changing, they’ll keep working hard to make everyone happy.

Looking Forward to the Future

The founders end by saying they’re excited about the future. They want to make the internet better by using new technology like Web3. They’re sure that, with everyone’s support, they can still make good things happen and help build a better digital world.

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