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Egmonks t1_j3s955w wrote

Reply to comment by hamburgers666 in Coinbase to slash 20% of workforce in second major round of job cuts by ChocolateTsar

Cutting workforce to increase/maintain profitability doesn’t mean they are being mismanaged. They grew extremely fast during the crypto bubble and are needing to right size.

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oxidizingremnant t1_j3sfw1g wrote

Doesn’t growing their workforce too quickly and later doing two rounds of layoffs within a year (each around 20% of the workforce) imply mismanagement?

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Egmonks t1_j3sofkz wrote

No because responding to market conditions and changes in revenue is good management. You can forecast all day but then reality shows up and if your models are wrong or something significant changes (like that massive crypto crash) you rework your plans and adjust. It sucks people are losing their jobs but this is the new reality crypto-tech companies exist in.

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Raevix t1_j3v9ykx wrote

Shows shitty respect for your employees, but employee wellbeing rarely correlates strongly with profit seeking.

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