{"id":72345,"date":"2023-01-10T18:54:32","date_gmt":"2023-01-10T16:54:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72345"},"modified":"2025-09-08T14:35:43","modified_gmt":"2025-09-08T11:35:43","slug":"coinbase-to-lay-off-20-of-staff-in-third-round-of-layoffs","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinbase-to-lay-off-20-of-staff-in-third-round-of-layoffs\/","title":{"rendered":"Coinbase to lay off 20% of staff in third round of layoffs"},"content":{"rendered":"

The cryptocurrency exchange Coinbase will terminate<\/a> employment relations with 950 employees as part of a 25% reduction in operating expenses. Since June 2022 this will be the third wave of layoffs affecting 2,110 workers.<\/p>\n

Implementing the initiative will require $149-163 million for severance and other payments. The platform will reflect the additional costs in the first-quarter 2023 results.<\/p>\n

\n

\u201cWe need to cut costs to improve the odds of success under any scenario,\u201d<\/em> explained the exchange’s CEO, Brian Armstrong.<\/p>\n<\/blockquote>\n

The top executive did not rule out further contagion in the industry stemming from the actions of unscrupulous players.<\/p>\n

The cash-strapped OTC platform Genesis Trading laid off 30% of its staff<\/a>. The WSJ reported that the firm is considering for bankruptcy<\/a>.<\/p>\n

In June 2022, Coinbase laid off 1,100 employees<\/a> (18% of the workforce). In November, the exchange took a similar decision affecting 60 staff<\/a>.<\/p>\n

Read ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 crypto news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency exchange Coinbase will terminate employment with 950 employees as part of a 25% reduction in operating expenses. Since June 2022 this will be the third wave of layoffs affecting 2,110 workers.<\/p>\n","protected":false},"author":1,"featured_media":72346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1166,138],"class_list":["post-72345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-centralized-exchanges-cex","tag-coinbase"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72345"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72345\/revisions"}],"predecessor-version":[{"id":72347,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72345\/revisions\/72347"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72346"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}