Two weeks after announcing a hiring pause, COINBASE has on Thursday shared yet another update on its recruitments. The existing market conditions in the cryptocurrency space have in general forced several companies to slash their headcount.
Earlier in the day, another crypto exchange Gemini announced it is cutting 10% of its employees. Gemini founders Tyler Winklevoss and Cameron Winklevoss wrote to the employees on the decision. According to a Bloomberg report, they cited several reasons, one of which is the ‘crypto winter’. “This has all been further compounded by the current macroeconomic and geopolitical turmoil. We are not alone.”
Coinbase Extends Hiring Pause
In a blog post by L.J. Brock, Coinbase chief people officer, said the job cuts decision was a result of current market conditions. Interestingly, the exchange also decided to rescind several offers which were already accepted.
“In response to the current market conditions and ongoing business prioritization efforts, we will extend our hiring pause for both new and backfill roles for the foreseeable future and rescind a number of accepted offers.”
‘Rescind Accepted Offers’
In response to the current market conditions and ongoing business prioritization efforts, we will extend our hiring pause for both new and backfill roles for the foreseeable future and rescind a number of accepted offers.
