Coinbase conducts additional layoffs that will affect about 60 employees


Coinbase Global Inc. COIN, +10.74% confirmed Thursday that it plans to conduct additional layoffs that will impact “just over 60 people.” The layoffs focus on the company’s recruiting and institutional onboarding teams. “These are isolated and targeted actions by two teams to help Coinbase operate as efficiently as possible,” Elliott Suthers, the company’s director of corporate and global communications, said in a statement. Coinbase announced in June that it was laying off 18% of its staff. Its stock is up more than 10% in Thursday afternoon trading on a strong day for the broader stock and crypto markets.

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