Coinbase, a cryptocurrency trading platform, has prolonged its hiring hold for the “foreseeable future” and plans to revoke a number of employment offers that were previously accepted. The decision was made owing to the present macroeconomic situation, which includes a worldwide economic slowdown and crypto market volatility, according to Coinbase.
“After assessing our business priorities, current headcount, and open roles, we have decided to pause hiring for as long as this macro-environment requires,” says L J Brock, chief people officer at Coinbase.
Backfills will be allowed throughout the lengthy hiring hold, with the exception of “necessary” security and compliance responsibilities.
“We will also rescind a number of outstanding offers for people who have not started yet,” Brock adds. “This is not a decision we make lightly, but is necessary to ensure we are only growing in the highest-priority areas.”
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