Coinbase is laying off another 950 workers amid a crypto market downturn

Jan 10 2023 by Engadget

Coinbase is letting another 950 employees go, seven months after it cut 1,100 jobs. In a note to staff, the company's CEO Brian Armstrong said that amid a downturn in the crypto market and the broader economy, he's made the call to reduce operating expenses by 25 percent quarter over quarter, resulting in the layoffs. Coinbase says on its website that it has more than 4,700 employees, so it's shedding around a fifth of its staff.

While acknowledging that some of the factors that resulted in...

Continue Reading Coinbase is laying off another 950 workers amid a crypto market downturn