What did all of these 6,200 coin bases do?

Von Krypto News Österreich

If only the recruitment campaign of Coinbase had made some personnel experts to do so.

The $ 11 billion of US dollar digital token shop announced that he had released 1,100 employees-about 18 percent of his workforce-due to a stopping stop, the withdrawal of job offers and an employee revolt who was met by CEO Brian Armstrong, who announced the employees A Twitter-Thread : "Display and find a company in which you can work in which you believe!"

sounds like he was really serious. The layoffs were explained on Tuesday in a blog post by Armstrong, who said that he believes that there is a recession on the horizon, the cryptoma markets have to enter another "winter" and the company had to reduce the costs.

He also said that the dismissed employee received the message to your personal address (highlighting from us):

In the next hour, each employee will receive an email from the HR department, which informs whether you are affected or not affected by this termination. Every employee affected receives an invitation to a direct conversation with your HRBP and the senior leader of your organization.

If you are affected, you will receive this notification in your personal email because we have made the decision to block access to coinbase systems for affected employees. It is clear to me that removing access will suddenly and unexpectedly feel, and this is not the experience I wanted for you. Given the number of employees who have access to sensitive customer information, this was unfortunately the only practical option to ensure that not even a single person makes a premature decision that harms the company or itself.

or to formulate it more precisely:

The layoffs follow the introduction of an NFT trading platform by Coinbase, which Techcrunch described as lackluster. They also follow a WSJ report that shows that managers have brought more than $ 1 billion home with stock sales since Coinbase's IPO in 2021.

One of the public complaints of the employees affected. And the number of 6,200 actually lifts the eyebrows. The crypto competitor FTX has currently listed 536 employees on LinkedIn.

We have questions and, in the sense of Defi, are looking for the answers using decentralized reporting:

  • What in the world did they all?

  • How many of them were involved in the creation of the advertisement that promised that "crypto is not dead", despite the 50 percent decrease in Bitcoin since the beginning of the year? When it was released three weeks ago, Bitcoin had fallen by a little less than 40 percent, so maybe more optimism was justified? The quasi-bank Celsius still allowed the customer to act (although there were some from Problem ).

  • What will the remaining 5,000 employees do at Coinbase and how many of them plan to stay according to the personnel problems of the last month?

We fear that the 1,200 employees who hired this year could be among the first. Those affected are invited to contact us via any email account that they still have access to or leave comments in the comment field.


Source: Financial Times