Coinbase to Cut a Fifth of Its Workforce in a Second Round of Layoffs

Coinbase to Cut a Fifth of Its Workforce in a Second Round of Layoffs

THE SIGNAL

Coinbase will be cutting a fifth of its workforce following an earlier staff reduction in June 2022 in an attempt to preserve its assets as the crypto industry faces a severe downturn.
Some of the largest firms in Silicon Valley in general have been delivering a steady stream of job cut announcements in recent months.
The company plans to cut around 950 positions for the quarter ending in March, according to a blog post written by CEO Brian Armstrong, on Jan. 11.
The blog post said that the firm would email the affected employees on their personal accounts and revoke access to company systems.
Coinbase had already slashed 18 …

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