Crypto.com cuts 20% jobs amid ‘unforeseeable’ industry events

Re:Crypto.com cuts 20% jobs amid ‘unforeseeable’ industry ev... by ulfw on Friday January 13, 2023 @07:49AM (#34366986)

Oh yea unforseen that spending $700MM on nothing but naming (not even owning) some stadium and hundreds of millions on other silly stuff doesn't pay off. Now employees have to suffer with impact on their livelihoods.

https://www.reuters.com/technology/how-cryptocom-is-betting-...

Meanwhile their token is down nearly 96% (i.e. almost wiped out): https://finance.yahoo.com/news/crypto-com-cuts-workforce-nea...

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Re:Crypto.com cuts 20% jobs amid ‘unforeseeable’ industry ev... by Forge36 on Friday January 13, 2023 @10:42AM (#34369278)

We'll see how much they sells the rights for. Imagine if they'd had that for runout in case of emergency.

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Re:Crypto.com cuts 20% jobs amid ‘unforeseeable’ industry ev... by Epuineeb5 on Friday January 13, 2023 @11:59AM (#34370510)

> The deal was reported to be valued at $700 million over 20 years, in comparison to the $116 million paid by Staples under its previous 20-year agreement.

Somehow I doubt they will get better offer for resale than that old Staples deal.

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Re:Crypto.com cuts 20% jobs amid ‘unforeseeable’ industry ev... by defterGoose on Saturday January 14, 2023 @03:27AM (#34378410)

Welcome to The Herbalife Crypto.com Arena. I love you.

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Re:Crypto.com cuts 20% jobs amid ‘unforeseeable’ industry ev... by Forge36 on Saturday January 14, 2023 @08:23AM (#34380139)

Idiocracy vibes make this feel more normal. That's disturbing

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