I'm flabbergasted they had so many employees that 30% is over 1000. Still, terrible time of year for this to happen to their employees.
Kraken lays off 30% of staff
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Re: Kraken lays off 30% of staff
#12I remember earlier in the year they said that they were unaffected by the bear market and were still hiring. [1]
I interviewed with them earlier in the year, glad it didn't work out.
[1]: https://www.businessinsider.com/coinbase-blockchaincom-and-k...
Re: Kraken lays off 30% of staff
#13Don't they realize they are supposed to create a KRY currency and pump it up to supply value to their company and pay their employees? Perhaps if the CEO had gone to Stanford, he would have been better educated in effective altruism and have placed their needs higher.
Re: Kraken lays off 30% of staff
#14> We’re reducing our global workforce by approximately 1,100 people, or 30 percent, in order to adapt to current market conditions. Why does a crypto exchange need 4,000 employees?
A followup question, if I may: why does a crypto exchange need 2,900 employees?
Re: Kraken lays off 30% of staff
#15At least they're handling it responsibly and generously: From their blog: Separation pay: We will pay 16 weeks of base pay for all departing Krakenites inclusive of the paid leave period. Performance bonus: For those eligible, we will pay each departing Krakenite their bonus as determined by their manager. Benefits: We will offer eligible Krakenites 4 months of healthcare continuation coverage inclusive of the paid l…
Severance at most recent layoffs has been very generous. Getting laid off sucks but this is just about the best way to do it.
Re: Kraken lays off 30% of staff
#16The contagion continues to spread.
Re: Kraken lays off 30% of staff
#17Strange, LinkedIn shows staff of 500+ https://www.linkedin.com/company/krakenfx/ and the press-release mentioned "1,100 people, or 30 percent". Number do not add up.
Re: Kraken lays off 30% of staff
#18> Since the start of this year, macroeconomic and geopolitical factors have weighed on financial markets.
This is an incredible couching of the last 9 months of cryptocurrency market behavior. Does anybody actually operate on their belief that "geopolitical factors," rather than astonishing amounts of fraud, are responsible for the current downturn?
Re: Kraken lays off 30% of staff
#19At least they're handling it responsibly and generously: From their blog: Separation pay: We will pay 16 weeks of base pay for all departing Krakenites inclusive of the paid leave period. Performance bonus: For those eligible, we will pay each departing Krakenite their bonus as determined by their manager. Benefits: We will offer eligible Krakenites 4 months of healthcare continuation coverage inclusive of the paid l…
Severance at most recent layoffs has been very generous. Getting laid off sucks but this is just about the best way to do it.
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Re: Kraken lays off 30% of staff
#20I'm flabbergasted they had so many employees that 30% is over 1000. Still, terrible time of year for this to happen to their employees.
Why is it that approaching a Hallmark made up consumerism focused holiday supposed to be more terrible to be laid off than any other time?