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Coinbase Announces 18% Layoffs

blog.coinbase.com

401–410 of 616 posts

Re: Coinbase Announces 18% Layoffs

#401
post #375
post #360

Earlier quoted context omitted.

>In many jurisdictions (not in the US I suppose), before firing someone for poor performance they must be told that their performance is inadequate and be given a chance to improve. Performance Improvement Plans are a thing at larger companies. That said, once someone is on a PIP, the handwriting is almost certainly on the wall. I've also worked with people who were incredibly oblivious about the quality of their wor…

The PIP thing varies. Some companies just use them as a risk reducing tool to fire people, but a few really believe in them and will keep employees who've gone through them. I take a dim view of that, personally, just because it ends up feeling like management-by-fear.

People can get their act together especially if external factors were a significant part of the problem. That said, assuming they can find employment elsewhere--which may be easier or harder depending on their skills and location--they're probably better starting fresh somewhere else.

Re: Coinbase Announces 18% Layoffs

#402

Earlier quoted context omitted.

Alameda is the single scariest entity in crypto. They're absolutely brutal. I exit every trade once it becomes apparent that Alameda is in. If I was a VC firm, however, I would back anything SBF was doing. He's a genius when it comes to making money.

Sorry, what does SBF stand for?

Sam Bankman-Fried, guy who started FTX and Alameda Research

Re: Coinbase Announces 18% Layoffs

#404
post #219

Earlier quoted context omitted.

Company I worked at had a layoff in 2012, security manager escorted 200 people out of the building. At the end of the day, he was escorted out of the building. It was quite shitty for that fellow, I felt terrible for him.

One place I worked at briefly would call the cops and have them escourt you out if they thought there was any risk of "disruption or back talk" (their words). I decided not to work for assholes who lay off little old ladies and then to add insult to injury, call the cops on them.

One company I worked for (a bank) had an office outside of the security gates, mainly used for exit interviews; they would disable people's access cards and accounts while that was going on.

Re: Coinbase Announces 18% Layoffs

#405

Earlier quoted context omitted.

Alameda is the single scariest entity in crypto. They're absolutely brutal. I exit every trade once it becomes apparent that Alameda is in. If I was a VC firm, however, I would back anything SBF was doing. He's a genius when it comes to making money.

Sorry, what does SBF stand for?

Sam Bankman-Fried - the founder of Alameda

Re: Coinbase Announces 18% Layoffs

#406
So many folks on payroll for such a fresh starter company. It is unbelievable how these companies grew at such speed in the last 2 years. Were most roles sales/MLM model to generate influence?

18% Coinbase - 1100 20% BlockFi - 170 5% Crypto - 260

Re: Coinbase Announces 18% Layoffs

#407
post #377

Earlier quoted context omitted.

> Friendly, smiley, fake. My father had to lay off a bunch of people in 2008. I am now a manager. He told me that if I am ever forced to do this to not ever do this crap to my team. Tell them that this is bullshit. Tell them that you are upset. Tell them that you haven't slept. Tell them that the are right to be mad, disappointed, and even to hate you for choosing their head to roll. Anything better than fake smiles…

To me, saying that "you don't want to be doing it" (paraphrased as "you are upset" or "you haven't slept"), is much more of a fake bullshit than the other thing. Be an adult take responsibility for your actions, don't blame "the guy" (your boss, your company, the economy, whatever). If you really hated doing it, you wouldn't be doing it. Quitting yourself is always an option.

As I stated very explicitly in my post, I believe that I'd quit in this situation.

Re: Coinbase Announces 18% Layoffs

#409
post #72

Earlier quoted context omitted.

Pretty standard to not let terminated employees hang around. It feels cold but it’s just the way it has to be. Sone places will even do this when an employee submits a resignation on good terms. Just a way for the company to cover themselves.

This is absolutely untrue. In Europe we work several days/weeks after the layoff notice. You can fire people from the night to the morning only in US

[deleted]

Re: Coinbase Announces 18% Layoffs

#410

Earlier quoted context omitted.

Nobody's using crypto for its intended purpose - its value proposition when it comes to payments is just as dubious as it ever was. The vast majority of the attention for crypto has been for its speculative aspect.

There are tons of people using it for its apolitical and censorship resistant nature. Afghanistan/Ukraine/Lebanon/Argentina/Venezuela/Nigeria/Turkey/Belarus/Mexico to name a few countries where it is very relevant and useful https://www.bbc.com/news/world-asia-60715707 https://www.financialinclusion.tech/

What percentage range (total value, transactions, etc) would you say counts as "tons"?
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