Is Coinbase going through layoffs in 2022?

Now Coinbase (NASDAQ: COIN) is joining the pack. The Coinbase layoffs account for more than 60 staff members. While this is a smaller number than many other companies, it isn’t the first round of layoffs the crypto exchange has conducted in 2022.

Is Coinbase slashing its workforce?

Making wealth creation easy, accessible and transparent. It was announced on Jan. 10, 2022 that Coinbase would be slashing its workforce by about 20% (which translates to 950 employees) in an effort to reduce overall operating expenses by 25%.

Is Coinbase firing 950 employees?

Watch: Coinbase Global Inc. is firing about 950 employees, or 20% of its workforce. Source: Bloomberg Coinbase Global Inc. is firing about 950 employees, or 20% of its workforce, as the worsening crypto slump spurs another round of layoffs at the biggest US digital-asset exchange.

Is Coinbase entering a recession & a looming crypto winter?

In a Tuesday morning blog post, Coinbase CEO Brian Armstrong announced the decision and warned of a recession and a looming crypto winter. “We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period,” Armstrong wrote.