Coinbase Lays Off 1,100 Employees as the recession hits the market

Coinbase a popular crypto brokerage based in america going to lay-off 18 % of its work force. 

IIt is done to reduce the cost of company as the stock and crypto market is going down

"We grew too quickly," CEO Brian Armstrong. labor costs have grown "too high to effectively manage this uncertain market"

Coinbase a popular crypto brokerage has total of 5000 employee to hadle all its function. 

Departing employees will receive at least 14 weeks of severance, four months of health insurance and job-search resources, the company said

estimating it will incur about $40 million to $45 million in restructuring expenses related to the termination benefits.

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