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Coinbase to lay off 950 employees
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The company, which has suffered sustained losses and customer outflows in recent quarters, say it expects its full-year figures to be "within the negative $500 million loss guardrail" previously stated in a shareholder letter.The restructuring is billed as a resonse to "ongoing market conditions impacting the cryptoeconomy".
It will cost up to $163 million, including as much as $68 million in cash charges related to employee severance.The firm says it expects the cull to be completed by the second quarter of 2023.
. Read more on finextra.comAbout this in other media
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