On the road to IPO: Why Coinbase’s firing of support staff
According to Yahoo Finance, the largest cryptocurrency exchange in USA Coinbase this week fired the group of employees of the customer service. The company officially confirmed the layoffs, but did not report how many people lost their jobs. According to insider reports, 15 of them.
For a company with a staff of 550 employees, the dismissal of 15 employees does not seem significant but any reduction on Coinbase interest at a time when the company strives to become public.
After a new campaign is raising funds this month, Coinbase is estimated at $8 billion; it was also included in the composition of the Board of Directors of Chris Dodds ‘ of Charles Schwab after I broke up with David Marcus from Facebook.
The fired employees were part of the team, which Coinbase announced back in 2013, saying:
Recently a number of our users reached 300 000. It became obvious that the creation of decent customer service we need to collect the best. Therefore, we form a team of technical support who will work on a remote basis, serving a growing user base.
Five years later, in 2018, from 25 million to Coinbase users and offices worldwide: in San Francisco, London, Tokyo, Portland, Oregon and Dublin. In January, Coinbase has hired Tina Bhatnagar, formerly worked at Salesforce and Twitter, for the post of head of customer service. According to sources, Bhatnagar wants to centralize a service, i.e. to transfer all its employees in physical offices. Therefore, the remote team of customer support service was disbanded, although some members of this group were invited to go to work in offices.
Note that the rumors of a possible downsizing Coinbase in connection with the cooling of the market in cryptocurrency circles there for several months. The probability that the IPO, the company will conduct, and other organizational changes.