Coinbase cuts staff by a further 20%

Re:Coinbase cuts staff by a further 20% by ushakov on Tuesday January 10, 2023 @07:25AM (#34323756)

> I've made the difficult decision to reduce our operating expense(1) by about 25% Q/Q, which includes letting go of about 950 people

read that again

you're not an individual to corporations, just an expendable

can only imagine the joy shareholders get out of "cutting expenses", they get richer and you peasants lose jobs

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Re:Coinbase cuts staff by a further 20% by MattPalmer1086 on Tuesday January 10, 2023 @07:33AM (#34323864)

Why would you expect a corporation to treat you as an "individual"? What would that even mean?

You think executives should let a company go bust, rather than shedding staff when times aren't good?

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Re:Coinbase cuts staff by a further 20% by swyx on Tuesday January 10, 2023 @07:26AM (#34323770)

wrong:

expenses are on income statements

carry on

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Re:Coinbase cuts staff by a further 20% by ergonaught on Tuesday January 10, 2023 @08:22AM (#34324436)

I doubt that it's news to anyone that staff are an expense.

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Re:Coinbase cuts staff by a further 20% by KrakenEng on Tuesday January 10, 2023 @06:13PM (#34332827)

Employees got 14 weeks severance. They didn't have to do that.

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Re:Coinbase cuts staff by a further 20% by sudosysgen on Tuesday January 10, 2023 @08:15PM (#34333755)

This is not true. There are State and Federal restrictions on mass layoffs, which generally require a few months of notice. Giving severance is understood to count as notice. In any case you'd get the money, and you probably wouldn't be useful anyways.

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