TechFlow reports that a filing sent to the Nevada Department of Employment, Training and Rehabilitation (DETR) shows cryptocurrency custodian Prime Trust has notified its employees of potential layoffs affecting 62 workers within the next two months.
The crypto custodian, which filed for bankruptcy in August, disclosed the possible workforce reduction to DETR on September 14. Since the company's current number of employees is unknown, it remains unclear what percentage of its workforce these 62 positions represent. Under the U.S. Worker Adjustment and Retraining Notification (WARN) Act, employers must provide at least 60 days' notice to employees prior to "mass layoffs" or plant closures.
One bankruptcy filing indicates the company had 70 full-time employees and contractors as of August 14.
