Cryptocurrency exchange Coinbase Global Inc. said it is cutting nearly one-fifth of its staff because the company is growing too fast and a potential recession “may lead to another crypto winter.” rice field.
The company announced on Tuesday that it would reduce its workforce by 1,100, or about 18% of its workforce, as part of its efforts to manage operating expenses.of Letter to all employees“The cost of our employees is too high to effectively manage this uncertain market,” said Brian Armstrong, Chief Executive Officer.
