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Coinbase laying off 18%. Employees started a petition to remove Executives

I'm sure it won't amount to anything but at least it's not just remaining employees lying down. https://www.wsj.com/articles/crypto-exchange-coinbase-to-lay-off-18-of-staff-11655211069 https://www.forbes.com/sites/jackkelly/2022/06/11/coinbase-ceo-tweets-quit-and-find-a-company-you-believe-in-to-disgruntled-employees/ “After cryptocurrency platform Coinbase announced at the beginning of June it would not only extend its hiring pause but “rescind a number of accepted offers,” a public backlash erupted on social media sites, as people who had the rug pulled out from under them shared their tales of being jobless after excitedly anticipating a new position with the top-tier crypto platform. This action may have catalyzed an uprising among disenchanted Coinbase employees, who started an online petition, leaked Thursday by crypto site Mirror, to remove top executives, including chief operating officer Emilie Choi, chief product officer Surojit Chatterjee and chief people officer LJ Brock, “in a vote of no confidence.” The workers criticized management, stating in the petition that “the executive team has recently been making decisions that are not in the best interests of…


I'm sure it won't amount to anything but at least it's not just remaining employees lying down.

https://www.wsj.com/articles/crypto-exchange-coinbase-to-lay-off-18-of-staff-11655211069

https://www.forbes.com/sites/jackkelly/2022/06/11/coinbase-ceo-tweets-quit-and-find-a-company-you-believe-in-to-disgruntled-employees/

“After cryptocurrency platform Coinbase announced at the beginning of June it would not only extend its hiring pause but “rescind a number of accepted offers,” a public backlash erupted on social media sites, as people who had the rug pulled out from under them shared their tales of being jobless after excitedly anticipating a new position with the top-tier crypto platform. This action may have catalyzed an uprising among disenchanted Coinbase employees, who started an online petition, leaked Thursday by crypto site Mirror, to remove top executives, including chief operating officer Emilie Choi, chief product officer Surojit Chatterjee and chief people officer LJ Brock, “in a vote of no confidence.”

The workers criticized management, stating in the petition that “the executive team has recently been making decisions that are not in the best interests of the company, its employees, and its shareholders,” and these decisions have “led to questionable results and negative value.” They cited a toxic workplace, overstaffing, the misguided prioritization of certain products and the tone-deaf recision of offers that led to unfavorable publicity and a stain on the company’s reputation. The petitioners also called out the firm for its alleged lack of communication regarding layoffs and condescension stemming from the executive suite.”

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