Thailand crypto exchange Bitkub's parent cuts 5.5% of staff

'Small' adjustment comes as net profit fell last year and expenses ballooned

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Bitkub is joining a flurry of tech companies in the region downsizing in recent months. (Source photos by Reuters and screenshot from Bitkub's website) 

PIMFHA CHAN, DealStreetAsia

BANGKOK -- Bitkub Capital Group, the parent company of Thailand's largest digital asset exchange Bitkub Online, has fired about 5.5% of its personnel and curbed employee benefits to put a lid on costs amid economic headwinds, it said in a statement on Wednesday.

There was also a retrenchment at Bitkub Online, where around 2% of staff were let go, the statement added.

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