AM I NEXT? NO LOVE AT PAYWARD

Cheyenne, Wyoming-based Payward, a portfolio of cryptocurrency-related companies spanning trading, custody, payments, lending, on-chain finance, and benchmarks, has announced a 5% reduction in force as part of a strategic corporate reorganization to streamline operations and present a leaner financial profile ahead of a planned Initial Public Offering designed to make the IPO more attractive to investors.

The reduction affects 150 employees.

According to a company statement, "We don't comment on specific personnel or operational decisions. As a high-performance culture, we continually evaluate and evolve our organization to ensure we have the right structure and talent in place to optimize growth and deliver for our clients."

Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT KRAKEN

San Francisco, California-based Kraken, a United States–based cryptocurrency exchange, has announced another restructuring, the appointment of a new co-chief executive, and a 15% percent reduction in force.

The reduction will impact approximately 400 employees.

Co-CEO Arjun Sethi AND co-CEO Dave Ripley blogged, "To continue forging our path ahead and put Kraken in contention to become the largest crypto platform in the world, we need to be leaner and faster. We are making organizational discipline decisions to tackle this problem and eliminate layers. The next chapter of Kraken starts today”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT COINBASE

Coinbase, which functions as a virtual company with no physical headquarters using remote employees, a cryptocurrency exchange platform, is implementing a restructuring plan with the goal of reducing operating expenses.

The cost-reduction initiative impacts approximately 950 employees and is expected to be substantially complete by the second quarter of 2023.

Coinbase CEO Brian Armstrong noted...

"In 2022, the crypto market trended downwards along with the broader macroeconomy. We also saw the fallout from unscrupulous actors in the industry, and there could still be further contagion... In the face of increasingly challenging economic conditions, we made the difficult decision to further reduce the size of our teams to ensure we have the appropriate operational efficiency to weather downturns in the crypto market and capture opportunities that may emerge."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?