In an internal message shared with Luno employees, Marcus Swanepoel, the company’s co-founder and CEO, cites the global economic downturn and an “even bigger” downturn in the tech sector, as well as a crypto winter “with a series of shocks” including the collapses of FTX and Three Arrows, as reasons behind the layoffs.
“Luno unfortunately hasn’t been immune to this turbulence, which has affected our overall growth and revenue numbers,” Swanepoel says.
