{"id":518779,"date":"2022-11-30T22:45:00","date_gmt":"2022-11-30T19:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/kraken-cuts-workforce-by-30-in-an-effort-to-survive-crypto-winter\/"},"modified":"2022-11-30T22:45:00","modified_gmt":"2022-11-30T19:45:00","slug":"kraken-cuts-workforce-by-30-in-an-effort-to-survive-crypto-winter","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/kraken-cuts-workforce-by-30-in-an-effort-to-survive-crypto-winter\/","title":{"rendered":"# Kraken cuts workforce by 30% in an effort to survive crypto winter"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a1c7b17659\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a1c7b17659\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/kraken-cuts-workforce-by-30-in-an-effort-to-survive-crypto-winter\/#%E2%80%9D_Kraken_cuts_workforce_by_30_in_an_effort_to_survive_crypto_winter_%E2%80%9C\" >&#8221; Kraken cuts workforce by 30% in an effort to survive crypto winter &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Kraken_cuts_workforce_by_30_in_an_effort_to_survive_crypto_winter_%E2%80%9C\"><\/span>&#8221; Kraken cuts workforce by 30% in an effort to survive crypto winter &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNzM3OGI3ZTktZmI1My00MzFlLTkxM2UtYjU3ODlmNThhMjZkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-b8b12140>Cryptocurrency exchange Kraken <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.kraken.com\/post\/16442\/business-update\/\">announced<\/a> on Nov. 30 that it has made one of its \u201chardest decisions\u201d\u00a0 and is cutting down its global workforce by <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 1,100 people, comprising approximately 30% of its total workforce, amid current market conditions.<\/p>\n<p>According to CEO and co-founder Jesse Powell, Kraken had to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>le its workforce due to the fast-growing crypto ecosystem, and the current pullback takes the size of the company\u2019s team back to where it was 12 months ago. Powell shared in a tweet, &#8220;Macro was already tough and we held out but recent industry woes diminished near-term optimism about a crypto rebound.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Rough day at <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/krakenfx?ref_src=twsrc%5Etfw\">@krakenfx<\/a>. Headcount rolled back 12 mos. Macro was already tough and we held out but recent industry woes diminished near-term optimism about a crypto rebound. Better positioned now. Glad we were able to take good care of our former colleagues. Been a privilege. \u200d\u2642\ufe0f <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/xfwShapS2N\">https:\/\/t.co\/xfwShapS2N<\/a><\/p>\n<p>\u2014 Jesse Powell (@jespow) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jespow\/status\/1598013027902971904?ref_src=twsrc%5Etfw\">November 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Lower trading volumes and fewer client sign-ups amid turbulent market conditions have contributed to Kraken\u2019s decision to cut down its expenses by slowing down hiring efforts and avoiding large marketing commitments.\u00a0<\/p>\n<p>According to the exchange, these changes are necessary \u201cto sustain the business for the long-term while continuing to build world-class products and services in selective areas that add the most value for our clients.\u201d<\/p>\n<p>The company stated that employees being let go were given a decent severance package, which includes separation pay covering 16 weeks of base pay, performance bonuses, four months of healthcare coverage including counseling, immigration support and career support, among other benefits. <\/p>\n<p><strong><em>Related:\u00a0<\/em><\/strong><strong><em>US lawmaker questions major crypto exchanges on consumer protection amid FTX collapse<\/em><\/strong><\/p>\n<p>Earlier this year in June, Kraken <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.kraken.com\/post\/14372\/kraken-announces-global-hiring-push-and-commitment-to-crypto-first-culture\/\">announced<\/a> that it would continue to hire over 500 roles in various departments amid a market downturn. The company&#8217;s hiring efforts were at the time in stark contrast to major layoff announcements from major blockchain firms such as Coinbase and BlockFi.<\/p>\n<p>In support of the decision to continue to expand its staff earlier in the year, Kraken had said:<\/p>\n<blockquote><p>\u00a0\u201cWe have not adjusted our hiring plan, and we do not intend to make any layoffs. We have over 500 roles to fill during the remainder of the year and believe bear markets are fantastic at weeding out the applicants chasing hype from the true believers in our mission.&#8221;<\/p><\/blockquote>\n<p>Current layoffs, however, show a contrasting picture from the CEO&#8217;s statements made in June, when he took the opportunity to throw shots at supposed \u201cwoke activists&#8221;\u00a0while discussing the company&#8217;s decision to hire hundreds of new employees.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/kraken-cuts-workforce-by-30-in-an-effort-to-survive-crypto-winter\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Kraken cuts workforce by 30% in an effort to survive crypto winter &#8220; Cryptocurrency exchange Kraken announced on Nov. 30 that it has made one of its \u201chardest decisions\u201d\u00a0 and is cutting down its global workforce by approximately 1,100 people, comprising approximately 30% of its total workforce, amid current market conditions. According to CEO&#8230;<\/p>\n","protected":false},"author":1,"featured_media":518780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNzM3OGI3ZTktZmI1My00MzFlLTkxM2UtYjU3ODlmNThhMjZkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,74860,74880,117,73785,4965],"class_list":["post-518779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-transactions","tag-business","tag-markets","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/518779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=518779"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/518779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/518780"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=518779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=518779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=518779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}