Luno Cuts 20% of Global Workforce as Automation Reshapes Crypto Exchange Operations

NewsData.io · United States · Jul 30, 2026

Crypto exchange Luno is eliminating 20% of its global workforce — its second major round of layoffs in three years, following a 35% cut in January 2023 — citing a cyclical slump in retail trading and increased investment in automation. CEO James Lanigan announced the company will restructure into three core platform divisions and exit non-core markets by September 1, 2026. Automation was specifically cited as having fundamentally changed the company's resource requirements, reducing headcount needs. South African workers are among those affected, with formal consultation proceedings underway under the country's Labour Relations Act.