If reports from Coinbase are to be believed, the crypto exchange company cut down 18% of its workforce without any prior notice to the employees. Most of their employees woke up to find out via social media that some people are getting fired. Some former Coinbase employees found out they'd lost their job on Twitter, others when they couldn't log onto work laptops https://t.co/AeF58wEOKQ — Bloomberg Crypto (@crypto) June 15, 2022 The Sudden Reduction in Workforce Earlier in 2022, Andrew Grass assisted in the hiring of roughly 200 workers at Coinbase Global Inc. Most of those hires, including Grass, have since been laid off. The biggest US digital-asset trading platform on 14th June announced the reduction of around 18% of its personnel. They blamed the decline in cryptos and the deteriorating market situation. However, several Coinbase employees say they didn’t get any email from CEO Brian Armstrong announcing the cutbacks. Rather, they all learned of the news via several social media platforms. Others stated they initially noticed something was awry when they couldn’t access their work computers. In fact, the statement came as a surprise to Grass. He had just arrived from an off-site conference in Austin, Texas, with several of Coinbase’s associate managers. When he awoke on 13th June, he received a group text from a coworker pushing him to check his email for news on the layoffs. He attempted to get on to his computer but was...
