Bitmain may cut 90% of workforce ahead of bitcoin halvening

Following the layoffs in early 2019, Bitmain launched its personnel optimization program again by the end of 2019. At present, the company is operating normally, cash flow healthy, but in May, Bitcoin halved in that, the company needs to streamline the organization “winter”, while focusing on the main business, the former chairman of the “business arbitrary expansion, free use of funds” to correct, especially the AI business in control of zhanketuan, due to the inability to generate profits, will become the focus of optimization.

It was revealed that last weekend Wu Jihan chaired a related meeting, asked all department managers to submit an optimization list, the optimization plan is expected to be completed by January 17 annual meeting. At present, there are more than 1000 people in the bitmain, compared with the competition Shenma mining machine 100 people in size, there is a certain redundancy of personnel

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