By L.J Brock, Chief People Officer
I shared an update with our employees today that I want to also share publicly here.
TL;DR: In response to the current market conditions and ongoing business prioritization efforts, we will extend our hiring pause for both new and backfill roles for the foreseeable future and rescind a number of accepted offers.
Two weeks ago, we paused hiring while we took time to reprioritize our hiring needs against our highest-priority business goals. As these discussions have evolved, it’s become evident that we need to take more stringent measures to slow our headcount growth. Adapting quickly and acting now will help us to successfully navigate this macro environment and emerge even stronger, enabling further healthy growth and innovation.
How we’ll navigate this moment:
We will extend our hiring pause for the foreseeable future.After assessing our business priorities, current headcount, and open roles, we have decided to pause hiring for as long as this macro environment requires.The extended hiring pause will include backfills, except for roles that are necessary to meet the high standards we set for security and compliance, or to support other mission-critical work. We will always prioritize the safety and security of our customers’ funds.
2. We will rescind a number of accepted offers.
We will also rescind a number of outstanding offers for people who have not started yet. This is not a decision we make lightly, but is necessary to ensure we are only growing in the highest-priority areas.Limited exceptions apply and will be managed by the same criteria as backfills.All incoming hires will be advised of their updated offer status today by email.
3. We acknowledge and take responsibility for the experience of those impacted.
This decision is not a reflection on the highly talented people we had extended job offers to.We will apply our generous severance philosophy to offset the financial impact of this decision.To further support impacted…
Click Here to Read the Full Original Article at The Coinbase Blog – Medium…
