Coinbase to Slash 20% of Its Workforce
- last year
Coinbase to Slash , 20% of Its Workforce.
CNBC reports that according to a
blog post published on Jan. 10, the
crypto exchange will cut 950 jobs.
CNBC reports that according to a
blog post published on Jan. 10, the
crypto exchange will cut 950 jobs.
The layoffs follow a separate 18% reduction
in staff that took place in June.
The company says it grew "too quickly"
amid a bull market.
With perfect hindsight, looking back, we should have done more, Brian Armstrong, Coinbase CEO, via blog post.
The best you can do is react quickly once information becomes available, and that’s what we’re doing in this case, Brian Armstrong, Coinbase CEO, via blog post.
... it became clear that we would need to reduce expenses to increase our chances of doing well in every scenario, Brian Armstrong, Coinbase CEO, via blog post.
They layoffs will reportedly decrease Coinbase's operating expenses by 25% by the end of Q1 2023.
They layoffs will reportedly decrease Coinbase's operating expenses by 25% by the end of Q1 2023.
A handful of projects with a "lower probability of success" will also be scrapped.
Coinbase CEO Brian Armstrong pointed to the current volatility of the cryptocurrency market and referenced issues caused by the collapse of FTX.
Coinbase CEO Brian Armstrong pointed to the current volatility of the cryptocurrency market and referenced issues caused by the collapse of FTX.
The FTX collapse and the resulting contagion has created a black eye for the industry, Brian Armstrong, Coinbase CEO, via blog post
CNBC reports that according to a
blog post published on Jan. 10, the
crypto exchange will cut 950 jobs.
CNBC reports that according to a
blog post published on Jan. 10, the
crypto exchange will cut 950 jobs.
The layoffs follow a separate 18% reduction
in staff that took place in June.
The company says it grew "too quickly"
amid a bull market.
With perfect hindsight, looking back, we should have done more, Brian Armstrong, Coinbase CEO, via blog post.
The best you can do is react quickly once information becomes available, and that’s what we’re doing in this case, Brian Armstrong, Coinbase CEO, via blog post.
... it became clear that we would need to reduce expenses to increase our chances of doing well in every scenario, Brian Armstrong, Coinbase CEO, via blog post.
They layoffs will reportedly decrease Coinbase's operating expenses by 25% by the end of Q1 2023.
They layoffs will reportedly decrease Coinbase's operating expenses by 25% by the end of Q1 2023.
A handful of projects with a "lower probability of success" will also be scrapped.
Coinbase CEO Brian Armstrong pointed to the current volatility of the cryptocurrency market and referenced issues caused by the collapse of FTX.
Coinbase CEO Brian Armstrong pointed to the current volatility of the cryptocurrency market and referenced issues caused by the collapse of FTX.
The FTX collapse and the resulting contagion has created a black eye for the industry, Brian Armstrong, Coinbase CEO, via blog post