Coinbase CEO Announces 18% Layoff Amid Impending Recession - BitcoinEthereumNews.com
TeknolohiyaCoinbase CEO Anounces 18% Layoff Amid Impending Recession06 / 14 / 2022Balita ng Ethereum ng Bitcoin Brian Armstrong – CEO of Coinbase – today anounced his decision to reduce the size of the company‘s team by 18%. Every Coinbase employee has now been issued a letter informing them of whether they’ve been laid off. The Bear Market Strikes Ayon sa isang blog post from Armstrong on Tuesday, the CEO explained that the recent macroeconomic downturn has forced his company to consider cutting its costs. “We appear to be entering a recession after a 10+ year economic boom,” he predicted. Mas maaga sa buwang ito, data from the Atlanta Federal Reserves GDP tracker showed that the U.S. may be on the brink of recession – defined as two consecutive quarters of negative GDP growth. Meanwhile, the market is bracing for further impact from incoming pagtaas ng rate ng interes from the Federal Reserve, which may come faster than expected in response to red-hot inflation. These pressures have spurred investors to abandon their positions in perceived “risk assets”, such as tech stocks and cryptocurrency. That‘s bad news for crypto-centric companies like Coinbase, which tend to perform in tandem with the digital asset market. At present, the company’s