{"id":50740,"date":"2022-06-14T20:42:10","date_gmt":"2022-06-14T20:42:10","guid":{"rendered":"https:\/\/harchi90.com\/coinbase-faces-internal-crisis-as-it-lays-off-1100-staffers\/"},"modified":"2022-06-14T20:42:10","modified_gmt":"2022-06-14T20:42:10","slug":"coinbase-faces-internal-crisis-as-it-lays-off-1100-staffers","status":"publish","type":"post","link":"https:\/\/harchi90.com\/coinbase-faces-internal-crisis-as-it-lays-off-1100-staffers\/","title":{"rendered":"Coinbase faces internal crisis as it lays off 1,100 staffers"},"content":{"rendered":"
Coinbase, the notorious cryptocurrency exchange founded in San Francisco, appears to be grappling with an internal crisis of sorts as it deals with tech and crypto industry headwinds.<\/p>\n
On Tuesday, the company announced that it would lay off 1,100 employees – nearly a fifth of its staff. It’s the final blow to the company’s rapid reversal of fortunes; after embarking on a mass hiring spree and a titanic Super Bowl ad earlier this year, the company paused hiring and reneged on already-accepted job offers.<\/p>\n
But in an unfortunately routine staff email sent and publicly posted by Coinbase CEO Brian Armstrong spelling out the company’s too-rapid growth and the global economic downturn, one sentence stood out (and not just because it’s the top-highlighted quote on the layoff notice) .<\/p>\n
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Armstrong explained that laid-off individuals would have access to all Coinbase systems cut off, and that they would receive the news in their personal emails.<\/p>\n
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