Overview
- Luno’s CEO confirmed the company is reducing roughly one fifth of its worldwide workforce and did not disclose the absolute number of roles or which regions and departments are affected.
- The company says material investments in automation and operational tools over the past year changed the staff it needs to run the exchange.
- Luno is reallocating resources to scale institutional trading, custody and white‑label offerings that let banks, fintechs and telecoms sell crypto under their brands.
- The cut follows a prior 35% reduction in January 2023 and comes as part of a broader July wave of crypto-sector restructuring that trackers list as including at least a dozen firms and hundreds of disclosed job losses.
- Luno says it will keep investing in compliance, core infrastructure and selected retail products while pursuing partnerships and stablecoin projects that management expects to steady revenue and lower cross‑border settlement costs.