[asien]

No surprise, just like Uber , Airbnb etc..coinbase has been overstaffed ever since they raised a major amount of capital many years ago...

Hence , I don’t see what 5K people can be doing at coinbase since some startups in Europe are doing the same with like 100 people...

It’s been known for years : startups overhire and lay-off when recession comes up.

With the “nazi revolution” in the 50’ , most startups rely exclusively on “Social Darwinism” , to solve problems or improve products , by having them fight internally and let the best ideas come to executives. Of course only employees who know how to navigate corporate politics are able to reach them and win those fights..

Those 1000 were not part of it, but they will have no problem finding another position somewhere else.