Cryptocurrency exchange OKX is laying off part of its workforce employed through its Dublin unit, a company spokesperson said.

The OKX spokesperson declined to reveal the exact number of layoffs but stated it was less than 1% of OKX's global workforce.

The impacted employees had been working through OKBL (Dublin) Services and Technology.

The spokesperson explained the layoffs were part of a global reallocation of resources and OKX planned to increase its global headcount in 2023.

"We recently made the decision to enter into employment consultation with less than 1% of our global workforce, employed through OKBL (Dublin) Services and Technology Co. Limited. All affected employees will be assisted through their transition by the company. Net global headcount remains unaffected. This is primarily a global resourcing decision on our part, and we intend to grow our global headcount in 2023. We remain committed to Dublin as an important strategic location," the company spokesperson told Benzinga.

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The recent round of layoffs came as several crypto companies, such as Coinbase, Crypto.com and Gemini Trust, had also reduced their workforces due to the current crypto market downturn amid the "crypto winter."

Incidentally, OKX announced last week it became the name sponsor of Istanbul Fintech Week.

Taking place on Feb. 8-9, Istanbul Fintech Week is a regional financial technology gathering of financial companies, investors, innovators, and entrepreneurs from across the world.

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