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?

AM I NEXT? NO LOVE AT CARTA

San Francisco, California-based Carta, an equity management platform, has announced a workforce reduction.

The reduction in force will impact approximately 200 employees.

CEO Henry Ward noted, “if our customers suffer, so do we. And right now, the entire tech and venture ecosystem are suffering.” The company claims that it cut costs in travel, vendor spend, marketing spend, and investments in new bets, but that it ultimately had to reduce headcount.

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?

AM I NEXT? NO LOVE AT SPECIALIZED BICYCLE COMPONENTS

Morgan Hill, California-based Specialized Bicycle Components, a designer manufacturer, and marketer of bicycles, and bicycle components, has implemented a cost-reduction initiative affecting 8% of the company's workforce, or 120 employees.

According to Specialized CEO Scott Maguire...

“We are transforming the company around our purpose to Pedal the Planet Forward. Our priority is to better serve riders, retailers, and communities and to be the best place for our teammates to innovate and grow. The time is now to adapt to the current environment and ultimately led us to make some extremely tough decisions today. I want to recognize those teammates who departed and thank them for all their contributions, hard work, and dedication to Specialized. We are focused on ensuring that they are fully supported during this difficult time. It may be tough to see in the moment, but the future of cycling and the future of our brand is bright.”

Previously...

“Over the last three years, the industry has changed at an incredible pace and shown that cycling is more powerful than ever. It’s clear the time has come for transformation and shifts for the future. With the global economy changing faster than anticipated and rapid changes within cycling, the organization adjustment will allow the brand to be adaptive, whilst still investing in innovation.”

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?