TRON (TRX) and BitTorrent Refute Claims of Employee Retention Issues

Voyager
Voyager

TRON (TRX) and subsidiary BitTorrent have recently taken to social media to refute claims that the acquisition of BitTorrent has caused significant employee retention issues within the company.

According to a breaking report by Coindesk that cited insiders familiar with the situation, at least five employees, including two management level, have left BitTorrent in June following the $120 million acquisition by TRON CEO Justin Sun. The report claims that these departures were directly related to the new TRON leadership.

The departures were related to concerns about the acquisition, as well as the direction proposed for the company by Tron leadership. Sources said three of the employees left on their own accord, while two others were dismissed.

The report even went as far as to float the idea¬†that other top employees, including the company’s chief executive, chief financial officer, chief product officer and chief revenue officer, are unable to leave the company due to 18-month lock-in agreements.

However, BitTorrent has fired back, stating that these five employees left to pursue education and other opportunities, alluding to the idea that the decisions were unrelated to the current company’ status. BitTorrent also emphasized the fact that the company has added 16 new employees since late June.

Sun¬†followed up with a retweet of the BitTorrent’s response, iterating the upbeat language found in the original post by stating, “Let’s work together to build a bright future. Go #TRON.”

The reports of employee discontent came shortly after it was announced that BitTorrent had been officially elected as one of the 27 different organizations and notable individuals all participating in the project’s governance.

Despite these reports,¬†the price of TRON’s TRX has not seemed to be directly impacted but continues to struggle against the broader market downtrend. TRX is currently ranked 10th in the¬†AltDex¬†100 Index¬†(ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More:¬†Tron’s BitTorrent Acquisition Triggers String of Employee Exits

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

 
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts