TechFlow news, Coinbase is cutting about one-fifth of its workforce as it aims to preserve cash during the cryptocurrency market downturn. The company plans to lay off 950 employees; as of the end of September, Coinbase had approximately 4,700 employees. In June, it had already cut 18% of its staff, citing cost management and overly rapid growth during the bull market. According to a new regulatory filing, these layoffs and other restructuring measures will reduce Coinbase's operating expenses by 25% in the quarter ending March.Original link
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