Exchange Coinbase reduces staff

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It is reported that crypto-exchange Coinbase reduces employees: dismissed at least 15 people. Meanwhile, in September the company increased almost twice, up to 500 employees.

Employees of large Coinbase crypto currency exchange located in the United States, angered by the mass layoffs in the company, according to Yahoo Finance.

As reported by anonymous employees of the company, Coinbase recently fired “at least 15 people”. Previously, the exchange has hired 250 people amid growing user audience, and the overall state of the company in September reached 500 people, according to the portal Business Insider.

In an official statement the administration Coinbase explained the layoffs by streamlining business practices:

“We found that some departments are being combined, become more effective and satisfied with their roles.”

 

“People in companies are afraid of layoffs, and senior management does not explain their actions”, — said one of the unnamed employees of the exchange.

According to the publication, the reduction can be associated with the activity of the new Director of support services Tina Bhatnagar, which came to Coinbase in January of this year. She wanted the support staff worked in offices, therefore some of the employees on a remote basis had been dismissed and others had been asked to go to work in the office, explained the source.

In early October, the media reported that Coinbase is conducting negotiations on attraction of investments in the amount of $500 million from Tiger Global, the company that was supposed to increase the value of crypto-exchanges to $8 billion. Two days ago, the CNBC journalist also stated that the site plans to hold an IPO. According to the publication, the number of users of Coinbase is 25 million people, 600 thousand of which are actively traded on the platform.

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