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Gemini cuts 25% of staff, exits key markets, focuses on U.S. amid cost cuts and AI efficiency.
Crypto exchange Gemini is cutting 25% of its workforce and exiting the UK, EU, and Australia, focusing solely on the U.S. market.
The company attributes the layoffs to AI-driven productivity gains, enabling streamlined operations.
This follows a prior staff reduction that halved its workforce since 2022’s peak.
The move aims to cut costs and accelerate profitability amid industry challenges, including regulatory scrutiny and weak market conditions.
Gemini plans to continue investing in its prediction markets platform.
The announcement led to a 5% drop in its shares, contributing to broader tech sector declines.
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Gemini recorta el 25% del personal, sale de mercados clave, se centra en los EE.UU. en medio de recortes de costos y la eficiencia de la IA.