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Coinbase Global (COIN) said in an SEC filing Tuesday it would lay off approximately 20% of its staff, or around 950 employees, as part of larger cost-cutting Cryptocurrency exchange Coinbase Global Inc. said on Tuesday it will reduce its workforce by about 20 per cent, or 950 employees, which is the third round of major Coinbase Global Inc said on Tuesday it will cut about 950 jobs, or 20% of its workforce, as part of a restructuring plan that marks the third round of layoffs for the Coinbase is letting another 950 employees go, seven months after it cut 1,100 jobs. In a note to staff, the company's CEO Brian Armstrong said that amid a downturn Crypto exchange Coinbase is set to lay off almost 1,000 employees as the New York-listed firm seeks to slash costs in a restructuring. It’s the latest in a string of EXCLUSIVE: Coinbase $COIN fires 1.2% of its staff. As per the details conveyed by a Coinbase spokesperson to Watcher Guru, the cryptocurrency exchange has let

Coinbase Lays Off Approximately 20% of Staff (950 Employees) Amid Market Turmoil

Coinbase, a leading cryptocurrency exchange, is undergoing significant restructuring, resulting in substantial job cuts. Coinbase Global Inc. ($COIN) announced in an SEC filing Tuesday that it would lay off approximately 20% of its staff, translating to around 950 employees. This decision is part of a larger cost-cutting initiative designed to navigate the current market volatility.

Third Round of Layoffs for Coinbase

This marks the third round of major layoffs for Coinbase Global Inc. Cryptocurrency exchange Coinbase Global Inc. said on Tuesday it will reduce its workforce by about 20 per cent, or 950 employees. The company is responding to challenging market conditions and aiming to improve operational efficiency.

Restructuring Plan Cuts Deep

Coinbase Global Inc said on Tuesday it will cut about 950 jobs, or 20% of its workforce, as part of a restructuring plan. This drastic measure reflects the pressure the company is facing in the current economic climate within the cryptocurrency sector. Coinbase is letting another 950 employees go, seven months after it cut 1,100 jobs.

CEO Brian Armstrong Addresses Staff

In a note to staff, the company's CEO Brian Armstrong said that amid a downturn, these difficult decisions were necessary to ensure the long-term health of Coinbase. The company aims to streamline operations and focus on its core business areas.

Seeking to Slash Costs

Crypto exchange Coinbase is set to lay off almost 1,000 employees as the New York-listed firm seeks to slash costs in a restructuring. It’s the latest in a string of cost-saving measures the company has implemented.

Initial Reports of Layoffs

EXCLUSIVE: Coinbase $COIN fires 1.2% of its staff. As per the details conveyed by a Coinbase spokesperson to Watcher Guru, the cryptocurrency exchange has let go of a portion of its employees, with further cuts affecting approximately 20% of the total workforce to follow, bringing the total to around 950. This news highlights the severity of the current challenges faced by Coinbase in navigating the volatile crypto market.

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