Tag Archives: layoffs

Coinbase to lay off 20% of staff as crypto winter continues | CNN Business

The crypto winter is apparently not over yet. Coinbase announced Tuesday that it was laying off 950 people, about 20% of its staff. The job cuts come only a few months after another major round of layoffs. The crypto brokerage firm let 1,100 people go in June, about 18% of its headcount at the time.

Coinbase, like many other publicly traded and privately held crypto companies, has been hit hard by the massive plunge in the price of bitcoin and other cryptocurrencies. The price of bitcoin is hovering around $17,000 after peaking near $65,000 in late 2021.

Some crypto fans have been encouraged by the solid start for bitcoin so far in 2023. Bitcoin is up more than 4% since the start of the year, suggesting that crypto prices may have finally bottomed out.

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As startup layoffs continue, some perspective | TechCrunch

Per Layoffs.fyi, a layoff tracker, over 16,000 tech workers lost their jobs in May, and June is off to a similarly brutal start. TechCrunch’s senior reporter Amanda Silberling and I have accidentally, and unfortunately, started working on a weekly column about the tech layoffs; what first started as a tip-over moment at Thrasio has soon expanded to startups regardless of sector, financing stage or if they had obvious growth tensions or not.

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12 red flags that your new job offer may be a scam | Fast Company

Between the Great Resignation and the layoffs of the pandemic, there are a lot of people looking for new jobs these days. And that’s presenting a ripe opportunity for scam artists.

The Internal Revenue Service (IRS), on Monday, issued a warning to Americans about bad actors who use fake job offers to steal money and personal information, a continuation of a heart-of-the-pandemic scam. By gathering that information, the scam artists are able to file fraudulent unemployment claims in their name, which not only costs the government, but also could significantly impact the victim’s tax bill and eligibility for future benefits.

“They promise you a job, but what they want is your money and your personal information,” says the FBI.

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Microsoft Declares War on Middle Managers and Khaki Pants | Businessweek

Welcome to Microsoft, Nokia employees—you’re out of a job.

So came the message on Thursday as Microsoft MSFT announced plans to fire as many as 18,000 people over the next year. The bulk of the layoffs, about 12,500 people, will come from the Nokia NOK devices and services business that Microsoft officially acquired in April. Most of the rest of the firings will affect people with overlapping jobs, furthering new Chief Executive Officer Satya Nadella’s pledge to create a leaner, meaner, faster-moving organization. Grrr.

It’s not easy firing this many people—especially when you’re Microsoft, which hardly ever fires anyone, and when you’re dealing with Finland, which also has a thing against firing people. The company did it with two memos and a press release. The first memo came from Nadella, who explained how the layoffs fit into the strategy outlined in his memo from last week. The second came from Stephen Elop, the former Nokia CEO and now Microsoft executive, who never really managed to revive Nokia’s business, delivered the pride of Finland into the clutches of Microsoft, and must be feeling some measure of guilt about all this. Right? A staggering 40,000 Nokia employees had already lost their jobs over the past few years, as the phonemaker transitioned from global market power to Harvard Business School case study.

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RIM’s BlackBerry 10 delayed again | money.cnn.com

Is this the end of the road for Research in Motion and the once-loved “CrackBerry”?

RIM (RIMM) reported three pieces of awful news Thursday: 5,000 layoffs, a giant quarterly loss and — worst of all — another delay to its next BlackBerry system. Shares plunged 18% Friday on the news.

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