Coinbase—Laid off over 2,100 employees (approximately 38% of workforce) across 2022-2023
Coinbase conducted major workforce reductions: 1,100 employees (18% of workforce) in June 2022 and 950 employees (20% of remaining workforce) in January 2023. CEO Brian Armstrong stated they 'grew too quickly' during the bull market. The technology and development division saw a 24% headcount reduction. Restructuring costs were $149-163 million in Q1 2023.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Worker Rights | -against | primary | -1.00 |
| Overall incident score = | -0.885 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.59)
Evidence (1 signal)
Laid off over 2,100 employees (approximately 38% of workforce) across 2022-2023
Coinbase conducted major workforce reductions: 1,100 employees (18% of workforce) in June 2022 and 950 employees (20% of remaining workforce) in January 2023. CEO Brian Armstrong stated they 'grew too quickly' during the bull market. The technology and development division saw a 24% headcount reduction. Restructuring costs were $149-163 million in Q1 2023.