Dovey Wan made the announcement on a tweet and also called it the first halving of 2020.
Below is her tweet:
” Earlier than Bitcoin halving, Bitmain gonna further cut half of its personnel by Chinese New Year this might be the first “halving” of 2020 I guess .. It’s commonly beautified as “人员结构优化” (employee structure optimization) for Chinese companies”
“might need another thread to share knowledge on this common practice of Chinese tech companies, i.e “optimizing” over 20% even half of its employees during the winter/economic downturn. This is not limited to Bitmain, but it’s very common this year for Chinese tech unicorns”