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Amber Group Reduces its Workforce by 40%

Amber Group Reduces its Workforce by 40%

Amber Group has terminated its £20m sponsorship deal with Chelsea Football Club and has announced it is firing 40% of its employees.

Amber carried out the first round of personnel optimization in September 2022.

The company plans to relocate the Hong Kong team to a simpler office, consider closing several small regional offices as part of the reduction in operating costs against the background of the crypto winter.

The managing partner of the cryptocurrency platform, Annabelle Huang, said on November 9 that about 10% of the trading capital was “stuck” on FTX, which is going through a bankruptcy procedure.

She spoke out against “predatory and misinformed” speculation about the sustainability of the Amber Group.