On July 28, Luno confirmed it is slashing roughly 20 percent of its global workforce to pivot toward institutional and business clients. CEO James Lanigan revealed the cuts as part of a broader restructuring.
The move aims to reduce costs while boosting their institutional platform, which offers liquidity and trading for professional customers. Despite layoffs, Luno plans to keep investing in compliance, core infrastructure, and selective retail products.
Lanigan didn’t specify how many employees are affected or which regions are involved, but noted automation and operational shifts have changed staffing needs. This downsizing follows an even larger one in January, when Luno trimmed 35 percent of its team amid the crypto market downturn.
This month, at least twelve crypto-related firms have reported layoffs. The CryptoJobsList tracker counts around 894 jobs lost across six companies, including BitMart, BitMEX, and Uphold, highlighting growing pressure on the sector.
Luno currently serves 15 million users globally, yet the company continues shifting resources toward institutional clients rather than retail. Lanigan described the reorganization as “leaner and adapted,” reflecting a strategic refocus rather than financial results or expected savings.
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